The Latest Non-Redemption Agreements: July 20, 2023
by Marlena Haddad on 2023-07-20 at 5:39pm

Latest Non-Redemption Agreements: Portage Fintech


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

On July 14, 2023, July 17, 2023, July 18, 2023 and July 19, 2023, Portage Fintech Acquisition Corporation (NASDAQ:PFTA) and its sponsor, PFTA I LP 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 with respect to an aggregate of approximately 2 million 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 approximately 0.6 million shares of the company’s Class B ordinary shares held by the sponsor and the company will issue to the holders a number of Class A ordinary shares equal to the Forfeited Shares.

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