The Latest Non-Redemption Agreements: July 14, 2023
by Marlena Haddad on 2023-07-14 at 5:33pm

Latest Non-Redemption Agreements: Portage Fintech 


Portage Fintech Acquisition Corporation (PFTA) Adds Non-Redemption Agreement

On July 14, 2023, Portage Fintech Acquisition Corporation (NASDAQ:PFTA) and its sponsor entered into non-redemption agreements with certain unaffiliated third parties in exchange for the Holder or Holders agreeing either not to request redemption in connection with the Extension or to reverse any previously submitted redemption demand in connection with the Extension with respect to an aggregate of 200,000 Class A ordinary shares.

In consideration of the foregoing agreement, 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 60,000 shares of the company’s Class B ordinary shares held by the Sponsor and the Company shall issue to the Holders a number of Class A ordinary shares equal to the Forfeited Shares.

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