Latest Non-Redemption Agreements: 10X Capital Venture Acquisition Corp. II, New Providence Acquisition Corp. II, Roth CH Acquisition V Co., and Apollo Strategic Growth Capital II
10X Capital Venture Acquisition Corp. II (VCXA) Adds Non-Redemption Agreement
On May 2, 2023, certain investors of 10X II entered into non-redemption agreements with 10X II (NASDAQ:VCXA) and 10X Capital SPAC Sponsor II LLC.
Pursuant to the Non-Redemption Agreements, the 10X II Investors agreed for the benefit of 10X II to vote certain ordinary shares owned in favor of the extension and not redeem the securities.
In exchange for these commitments from the 10X II Investors, the Sponsor has agreed to transfer to the 10X II Investors an aggregate of 110,261 Class B ordinary shares and to the extent the Board agrees to further extend the date to consummate an initial business combination to the additional extension date, an aggregate amount of up to 330,782 Class B ordinary shares on or promptly after the consummation of the business combination.
The Non-Redemption Agreements are expected to increase the amount of funds that remain in 10X II’s trust account following the EGM relative to the amount of funds expected to remain in 10X II’s trust account had the Non-Redemption Agreements not been entered into.READ
New Providence Acquisition Corp. II (NPAB) Adds Non-Redemption Agreement
In connection with the special meeting in lieu of an annual meeting of stockholders of New Providence Acquisition Corp. II (NASDAQ:NPAB) to extend the completion deadline from May 9, 2023 to May 9, 2024, the company and New Providence Acquisition II LLC entered into share transfer agreements with several holders of the Company’s Class A common stock, pursuant to which the holders have agreed not to redeem an aggregate of 4,600,000 Class A Shares.
In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the sponsor has agreed to forfeit and surrender to the company for no consideration an aggregate of 1,380,000 Class A Shares and shares of Class B common stock and the Company has agreed to issue an aggregate of 1,380,000 Class A Shares to the holders at such time.READ
Roth CH Acquisition V Co. (ROCL) Adds Non-Redemption Agreement
On May 3, 2023, Roth CH Acquisition V Co. (NASDAQ:ROCL) entered into non-redemption agreements with certain stockholders owning, in the aggregate, 1,310,409 shares of the Company’s common stock, pursuant to which such stockholders agreed, among other things, not to redeem or exercise any right to redeem such public shares in connection with the extension.
Certain initial stockholders agreed to pay the stockholders that entered into such agreements $0.04 per share for each one-month extension in connection with such agreements. The company may enter into other agreements with one or more stockholders pursuant to which such stockholders will agree not to redeem all or a portion of their public shares in connection with the extension. No additional funds will be deposited into the trust.READ
Apollo Strategic Growth Capital II (APGB) Adds Non-Redemption Agreement
On May 2, 2023 and on May 3, 2023, APSG Sponsor II, L.P., the sponsor of Apollo Strategic Growth Capital II (NYSE:APGB), and the Company, entered into additional non-redemption agreements with several unaffiliated third parties and may continue to enter into additional non-redemption agreements.READ
Latest Non-Redemption Agreements: EVe Mobility and Swiftmerge EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 7, EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary...
Latest SPAC Liquidations: Ahren Acquisition Corp. Ahren Acquisition Corp. (AHRN) to Liquidate on June 19 Ahren Acquisition Corp. (Nasdaq: AHRN) today announced its board of directors has determined to redeem all of its outstanding Class A ordinary shares, effective as of June 19. As of the open of business on June 20, the Class A Shares...
ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1. At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...