The Latest Non-Redemption Agreements: June 7, 2023
by Marlena Haddad on 2023-06-07 at 5:54pm

Latest Non-Redemption Agreements:  EVe Mobility and Swiftmerge


EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement

On June 7,  EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary Shares. The Non-Redemption Agreements with investors are with respect to an aggregate of 4,000,000 Class A Ordinary Shares.

Pursuant to the Non-Redemption Agreements, the sponsor has agreed to transfer to the investors for the initial extension, a number of founder shares equal to 21% of the number of Non-Redeemed Shares, or 840,000 Founder Shares, and for each additional monthly extension, a number of Founder Shares equal to 3.5% of the number of Non-Redeemed Shares, or 140,000 Founder Shares for each Additional Monthly Extension, or up to an aggregate of 1,680,000 Founder Shares if the initial extension and all Additional Monthly Extensions are implemented.

READ

Swiftmerge Acquisition Corp. (IVCP) Adds Non-Redemption Agreement

On June 6, Swiftmerge Acquisition Corp. (NASDAQ:IVCP) entered into voting and non-redemption agreements with one or more unaffiliated third party or parties in exchange for each such third party or third parties agreeing not to redeem Class A ordinary shares at the meeting.

In exchange for the foregoing commitments not to redeem such shares, the company has agreed to among other items: file a registration statement on Form S-1 with the SEC to permit the resale of the Shareholders’ Class A Ordinary Shares issuable upon conversion of the Company’s Class B ordinary shares within 30 days following the closing of the initial business combination and will use its best efforts to cause the registration statement to be declared effective by the SEC within 90 days after the closing of the Business Combination; the Class B Ordinary Shares owned by the shareholders will automatically convert into Class A Ordinary Shares upon the closing of the deal; and the shareholders shall not be required to enter into any lock-up agreement with respect to the Class A Ordinary Shares and Class B Ordinary Shares in connection with the transaction.

READ
Recent Posts
by Nicholas Alan Clayton on 2025-05-06 at 4:38pm

Dune Acquisition Corporation II (NASDAQ:IPODU) announced the pricing of its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IPODU”, Wednesday, May 7, 2025. The new SPAC aims expects to conduct a broad search for a combination target, but is interested in companies that are in the...

by Nicholas Alan Clayton on 2025-05-06 at 3:27pm

Oyster Enterprises II (NASDAQ:OYSEU) has filed for a $200 million SPAC to pursue a broad investment thesis, but one informed by the way that AI is shaking up industries. The new SPAC has units each containing one right to a 1/10 share and it will have 24 months to initially complete a business combination without...

by Nicholas Alan Clayton on 2025-05-06 at 12:00pm

StoneBridge II (NASDAQ:APACU) has filed for a $50 million SPAC underwritten by Maxim Group to hunt down a non-US target with a particular eye on India. The new SPAC is coming to market with one right to a 1/10 share in each unit and its trust will not be overfunded. Maxim has now underwritten two...

by Nicholas Alan Clayton on 2025-05-06 at 8:24am

At the SPAC of Dawn Three new SPACs have gotten in line for IPOs even as the market’s rally appears set to soften in today’s trading. Many eyes will be on the reading of the US’ March trade deficit for signs where the country’s trade policy might shift next. But, policy shifts have also unlocked...

by Nicholas Alan Clayton on 2025-05-05 at 8:10am

At the SPAC of Dawn Last week’s hot streak continues this week in the form of a high volume of votes for SPACs. Two are seeking approvals for their business combinations while six more aim to get the stamp on their extension votes. Investors will also have an eye on upcoming Fed comments on Wednesday...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved