The Latest Non-Redemption Agreements: June 23, 2023
by Marlena Haddad on 2023-06-23 at 5:33pm

Latest Non-Redemption Agreements: 7GC & Co. Holdings Inc.


7GC & Co. Holdings Inc. (VII) Adds Non-Redemption Agreement

On June 22, 7GC & Co. Holdings Inc. (NASDAQ:VII) and the sponsor, 7GC & Co. Holdings LLC, entered into a non-redemption agreement with an unaffiliated third party in exchange for the Holder agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to an aggregate of 250,000 shares of Class A common stock.

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 31,250 shares of the company’s Class B common stock held by the sponsor and the company shall issue to the Holder a number of shares of Class A common stock equal to the number of Forfeited Shares.

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