The Latest Non-Redemption Agreements: June 20, 2023
by Marlena Haddad on 2023-06-20 at 5:35pm
Latest Non-Redemption Agreements: Cartica Acquisition Corp.
Cartica Acquisition Corp. (CITE) Adds Non-Redemption Agreement
On June 16, Cartica Acquisition Corp. (NASDAQ:CITE) entered into certain non-redemption agreements with unaffiliated institutional investors in exchange for the Holders agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to an aggregate of 700,000 Class A ordinary shares.
In consideration of the foregoing agreement, the company will issue to the Holders an aggregate of 175,000 Class A ordinary shares substantially concurrently with or immediately after, the closing of an initial business combination.
Cartica estimates that as of June 30, the pro rata portion of the funds available in the trust account for the redemption of public shares will be approximately $10.67 per share.
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