Latest Non-Redemption Agreements: Capitalworks Emerging Markets, and GSR II Meteora
Capitalworks Emerging Markets (CMCA) Adds Non-Redemption Agreement
On May 18, 2023, Capitalworks Emerging Markets Acquisition Corp. (NASDAQ:CMCA) and the Company’s sponsor, CEMAC Sponsor LP, entered into additional non-redemption agreements with certain unaffiliated third parties in exchange for the Holder or Holders agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to certain Class A ordinary shares.
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 certain Class B ordinary shares and the company shall issue to the Holders a number of Class A ordinary shares equal to the Forfeited Shares.
As of the date of this report, CMCA has entered into Non-Redemption Agreements with respect to an aggregate of 4,000,000 Class A ordinary shares, and has agreed to issue an aggregate of 1,000,000 Class A ordinary shares while the Sponsor has agreed to surrender and forfeit an aggregate of 1,000,000 Forfeited Shares for no consideration immediately prior to, and substantially concurrently with, the closing of an initial business combination.
READGSR II Meteora Acquisition Corp. (GSRM) Adds Non-Redemption Agreement
On May 18, 2023, GSR II Meteora Acquisition Corp. (NASDAQ:GSRM) entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such Non-Redeeming Stockholders agreeing to either not redeem or to reverse any previously submitted redemption request with respect to an aggregate of 6,033,000 shares of the Company’s Class A common stock.
In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the company has agreed to issue to the Non-Redeeming Stockholders an aggregate of 60,330 shares of the Company’s Class A common stock.
If the Extension Proposal is approved, the Non-Redeeming Stockholders shall be entitled to receive up to 120,660 shares of Class A common stock in connection with the Initial Extension and for each Monthly Extension that occurs prior to the closing of an initial business combination.
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