Northern Star Investment Corp. III (NYSE:NSTC) and Northern Star Investment Corp. IV (NYSE:NSTD) announced in 8-K filings this afternoon that they have each secured additional non-redemption agreements as they work to extend their transaction deadlines.
Both SPACs entered into agreements with several unaffiliated third parties that have agreed to not redeem an aggregate of 800,000 shares. In exchange for the foregoing commitments, each sponsor has agreed to transfer 200,000 shares to the investors immediately following the completion of a business combination.
Today’s agreements follow a series of other non-redemption agreements that the SPACs have secured. Just yesterday, the pair added to the shares covered by non-redemption agreements and the day prior, the SPACs each came to agreements with investors to preserve 250,000 shares in exchange for a dispersal of 62,500 promote shares (0.6%) to these investors.
Both companies adjourned their originally scheduled votes on February 24, but reconvened the meeting yesterday. Northern Star III and IV have not announced the results from the meeting yet, but they have completion deadlines on March 4, and are seeking to extend their timelines to September 4.
These non-redemption agreements are not intended to increase the likelihood of the extension proposal being approved but will increase the funds remaining in their trusts following the meetings.
Neither SPAC has announced a business combination yet, but both are targeting data-driven consumer businesses. They are led by Chairman and CEO Joanna Coles, CFO James H.R. Brady and President and COO Jonathan Ledecky.
This team earlier completed a combination with subscription pet products seller BarkBox (NYSE:BARK) in May 2021.


Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...