Latest Non-Redemption Agreements: Pono Capital Two, and Roth CH Acquisition V Co.
Pono Capital Two (PTWO) Adds Non-Redemption Agreement
On May 3, 2023, Pono Capital Two (NASDAQ:PTWO) entered into non-redemption agreements with certain unaffiliated stockholders owning, in the aggregate, 773,682 shares of the Company’s Class A 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.
In connection with the non-redemption agreements, Mehana Capital, LLC, the Company’s sponsor, agreed to transfer to the stockholders that entered into such agreements shares of common stock upon the consummation of the Company’s initial business combination.
READRoth CH Acquisition V Co. (ROCL) Adds Non-Redemption Agreement
On May 4, Roth CH Acquisition V Co. (NASDAQ:ROCL) entered into additional non-redemption agreements with certain stockholders owning, in the aggregate, 689,591 shares of 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 Amendment.
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