Latest Non-Redemption Agreements: Atlantic Coastal Acquisition Corp. II
Atlantic Coastal Acquisition Corp. II (ACAB) Adds Non-Redemption Agreement
In connection with the special meeting of the stockholders of Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) to extend the company’s completion deadline from April 19, 2023 to October 19, 2023, the SPAC and its sponsor will enter into a non-redemption agreement with one or more unaffiliated third party or parties, pursuant to which such third party or third parties will agree not to redeem Series A common stock of ACAB.
In exchange for the foregoing commitments not to redeem such Series A common stock, the sponsor has agreed to transfer Series B common stock to the third parties immediately following consummation of an initial business combination.
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