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The Latest Non-Redemption Agreements: May 5, 2023
by Marlena Haddad on 2023-05-05 at 5:38pm

Latest Non-Redemption Agreements: Maquia Capital Acquisition Corporation, LAMF Global Ventures I, 10X Capital Venture II, and DP Cap I


Maquia Capital Acquisition Corp. (MAQC) Adds Non-Redemption Agreement

On May 5, Maquia Capital Acquisition Corporation (NASDAQ:MAQC) and Maquia Investments North America, LLC entered into a non-redemption agreement with one or more unaffiliated third party or parties in exchange for such third party or third parties agreeing not to redeem an aggregate of 247,883 shares of Class A common stock.

In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the Sponsor has agreed to transfer to such third party or third parties an aggregate of 79,323 shares of the Company’s Class A common stock.

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LAMF Global Ventures Corp. I (LGVC) Adds Non-Redemption Agreement

On May 5, LAMF Global Ventures Corp. I (NASDAQ:LGVC) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have agreed not to redeem, or to reverse and revoke any prior redemption election with respect to 1,300,000 Class A ordinary shares of the Company in the aggregate.

Pursuant to the agreement, the sponsor has agreed to transfer to the Investors for the initial extension, a number of Class B ordinary shares equal to 21% of the number of non-redeemed shares, or 273,000 founder shares, and for each additional monthly extension, a number of founder shares equal to 3.5% of the number of non-redeemed shares, or 45,500 Founder Shares for each Additional Monthly Extension, or up to an aggregate of 546,000 Founder Shares if the extension and all Additional Monthly Extensions are implemented.

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10X Capital Venture Acquisition Corp. II (LGVC) Adds Non-Redemption Agreement

On May 5, in connection with 10X’s (NASDAQ:VCXA) general meeting, scheduled to be held on May 10, additional investors of 10X II entered into non-redemption agreements with 10X II and Sponsor.

Pursuant to the agreements, the 10X II Investors agreed for the benefit of 10X II to vote certain 10X II ordinary shares owned or acquired in favor of the extension and not redeem the Subject 10X II Equity Securities.

In exchange for these commitments from the 10X II Investors, the Sponsor has agreed to transfer to the 10X II investors an aggregate of 189,011 Class B ordinary shares of 10X II, and to the extent the Board agrees to further extend the date to consummate an initial business combination to the additional extension date, an aggregate amount of up to 567,032 Class B ordinary shares, which includes the Class B ordinary shares referred to in clause, on or promptly after the consummation of the Business Combination.

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DP Cap Acquisition Corp. I (DPCS) Adds Non-Redemption Agreement

On May 5, DP Cap Acquisition Corp I (NASDAQ:DPCS) and certain unaffiliated investors entered into non-redemption agreements with DP Investment Management Sponsor I LLC, a Delaware limited liability company.
Pursuant to the agreements, the Investors agreed to not redeem an aggregate of up to 4,000,000 previously-held Class A ordinary shares and to vote the Investor Shares in favor of the extension.
In exchange for the foregoing commitments not to redeem the shares, the sponsor has agreed to transfer to the investors an aggregate of up to 1,000,000 Class B ordinary shares and to the extent the Board agrees to further extend the date to consummate an initial business combination to the Secondary Extension Date, an aggregate of up to 1,500,000 Class B Ordinary Shares.
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