Seaport Global Acquisition II Corp. (NASDAQ:SGII) announced in an 8-K filing this afternoon that it has signed one or more non-redemption agreements with third-party investors holding an aggregate of 200,000 shares of common stock.
Under the agreement, 50,000 shares of SGII common stock held by the sponsor will be allocated in exchange for the investors not redeeming their shares at the SPAC’s upcoming extension meeting on February 13.
Seaport Global II priced its $125 million IPO in November 2021, but hasn’t found a target company to combine with just yet. It now faces a completion deadline of February 19, but it is hoping to gain stockholder approval at its next meeting to extend its timeline by 6 months to August 19. The third-party investors have agreed to vote in favor of this extension as part of the non-redemption agreement.
With this agreement in hand, the SPAC expects to increase the likelihood of securing its extension and intends to increase the amount of funds that remain in its trust following the meeting.
Seaport Global II intends to focus its search on companies undergoing transformational, transitional, or reorganizational business strategies with an enterprise value of approximately $300 million to $1.0 billion.


Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...