Latest Non-Redemption Agreements: Northern Star Investment Corp. III, IV
Northern Star Investment Corp. III (NSTC) Adds Non-Redemption Agreement
On August 25, Northern Star III Sponsor LLC, the sponsor of Northern Star Investment Corp. III (NYSE:NSTC), entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 508,000 shares.
In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to such investors an aggregate of 101,600 shares immediately following the consummation of a business combination if they continue to hold such shares through the meeting.
The agreements are not expected to increase the likelihood that the extension is approved by stockholders but will increase the amount of funds that remain in the trust account following the meeting.
READNorthern Star Investment Corp. IV (NSTD) Adds Non-Redemption Agreement
On August 25, Northern Star IV Sponsor LLC, the sponsor of Northern Star Investment Corp. IV (NYSE:NSTD), entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 600,000 shares.
In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to such investors an aggregate of 120,000 shares immediately following the consummation of an initial business combination if they continue to hold such shares through the meeting.
The agreements are not expected to increase the likelihood that the extension is approved by stockholders but will increase the amount of funds that remain in the trust account following the meeting.
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Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...