Latest Non-Redemption Agreements: Apollo Strategic Growth Capital II, and Juniper II Corp.
Apollo Strategic Growth Capital II (APGB) Adds Non-Redemption Agreement
Apollo Strategic II (NYSE:APGB) today announced that it entered into a non-redemption agreement with an unaffiliated third party. Under the non-redemption agreement, the investor agreed not to redeem an aggregate of 1,500,000 non-redeemed shares at the meeting, in exchange for which commitment the sponsor has agreed to transfer to the investor an aggregate of 300,000 Class B ordinary shares.
The agreement is not expected to increase the likelihood that the extension proposal is approved by shareholders but will increase the amount of funds that remain in the trust account following the meeting.
READJuniper II Corp. (JUN.U) Adds Non-Redemption Agreement
On April 24, Juniper II Corp. (NYSE:JUN) entered into non-redemption agreements with 7 unaffiliated third parties in exchange for the holders agreeing either not to request redemption in connection with the extension proposal or to reverse any previously submitted redemption demand with respect to an aggregate of 2,240,900 shares of the Company’s Class A common stock.
Additionally, one of the third parties has agreed to use commercially reasonable efforts either not to request redemption in connection with the extension or to reverse any previously submitted redemption demand with respect to an additional 359,100 shares of Class A Common Stock on or prior to 5 p.m. Eastern Time on April 27, 2023.
In consideration of the foregoing agreements, 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 an aggregate of 672,270 shares of Class B common stock and in consideration of the holders’ agreements, the company will issue to the holders a number of Class A Common Stock equal to the forfeited shares.
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