The Latest Non-Redemption Agreements: March 24, 2023
by Marlena Haddad on 2023-03-24 at 5:40pm

Latest Non-Redemption Agreements: ExcelFin Acquisition Corp.


ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement

In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party.

The third party agreed not to redeem an aggregate of 500,000 Class A common shares of the company in connection with the extension. In exchange for the foregoing commitment, the sponsor agreed to transfer an aggregate of 125,000 Class B common shares to the third party immediately following the consummation of a business combination.

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