The Latest Non-Redemption Agreements: May 23, 2023
by Marlena Haddad on 2023-05-23 at 5:34pm

Latest Non-Redemption Agreements:  Capitalworks Emerging Markets


Capitalworks Emerging Markets Acquisition Corp. (CMCA) Adds Non-Redemption Agreement

On May 22, Capitalworks Emerging Markets Acquisition Corp (NASDAQ:CMCA) and its sponsor, CEMAC Sponsor LP, entered into an additional non-redemption agreement with certain unaffiliated third party in exchange for the Holder agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to 399,737 Class A ordinary shares.

In consideration of the foregoing agreement, immediately prior to, and substantially concurrently with, the closing of an initial business combination, the Sponsor will surrender and forfeit to the company for no consideration 99,935 company’s Class B ordinary shares and the company will issue to the holders a number of Class A ordinary shares equal to the Forfeited Shares.

CMCA has entered into Non-Redemption Agreements with respect to an aggregate of 4,399,737 Class A ordinary shares, and have agreed to issue an aggregate of 1,099,935 Class A ordinary shares while the sponsor has agreed to surrender and forfeit an aggregate of 1,099,935 Forfeited Shares for no consideration immediately prior to, and substantially concurrently with, the closing of an initial business combination.

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