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.
READSwiftmerge 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.
READBelow is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...
Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...
Latest SPAC Liquidations: Juniper II Corp. Juniper II Corp. (JUN) to Liquidate on October 10, 2023 Juniper II Corp. (NYSE: JUN), today announced that its board of directors has determined to redeem all of its outstanding shares of Class A common stock with such redemption anticipated to be effective as of October 10, 2023. The...