The Latest Non-Redemption Agreements: June 16, 2023
by Marlena Haddad on 2023-06-16 at 5:42pm
Latest Non-Redemption Agreements: 7GC & Co. Holdings Inc.
7GC & Co. Holdings Inc. (VII) Adds Non-Redemption Agreement
On June 16, 2023, 7GC & Co. Holdings Inc. (NASDAQ:VII) and the Company’s sponsor entered into a non-redemption agreement with an 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 an aggregate of 247,000 shares of Class A common stock.
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 an aggregate of 30,875 shares of Class B common stock and the company will issue a number of shares of Class A common stock equal to the number of Forfeited Shares.
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