Semper Paratus Acquisition Corporation (Nasdaq: LGST) filed an 8-K today announcing that on May 3, 2023, it had entered into a subscription agreement with Polar Multi-Strategy Master Fund and Semper Paratus Sponsor LLC.
The Investor agreed to contribute $151,000 to the Sponsor, which will be loaned to the company to cover working capital expenses. In exchange for the Initial Capital Contribution, the company will issue 151,000 Class A ordinary shares to the Investor at the De-SPAC Closing, subject to no transfer restrictions or lock-up provisions.
The SPAC loan will not accrue interest and will be repaid by the company upon the De-SPAC Closing. The Investor may elect to receive the payments in cash or Class A ordinary shares. If the company liquidates without consummating the initial business combination, the remaining amounts will be paid to the Investor.
Purchase Agreement
On May 4, 2023, the company entered into a purchase agreement with SSVK Associates, LLC and the Sponsor. The Acquirer will purchase 7,988,889 Class A ordinary shares and 1,000,000 private placement units from the Sponsor, free and clear of all liens and encumbrances, for an aggregate purchase price of $1.
The Acquirer will assume responsibility for all of the company’s public company reporting obligations, outstanding legal fees, and all other obligations related to the company. Pursuant to the Purchase Agreement, the Acquirer has the right to replace the company’s current directors and officers with directors and officers as the Acquirer may select in its sole discretion.
Hennessy Capital Investment Corp. VII (NASDAQ:HVIIU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “HVIIU”, Friday, January 17, 2025. The new SPAC intends to seek out a business combination with a company in the industrial technology and energy transition sectors. Hennessy...
Equites and crytpo trading platform eToro has reportedly filed for a traditional IPO two-and-half years after nixing its SPAC combination and its renewed thrust to the public markets could provide a useful demonstration of where things sit for SPACs in 2025. For one, eToro is reportedly making its IPO move at a valuation of $5...
At the SPAC of Dawn Right on the heels of a mostly positive inflation picture, SPACs are set to take in a raft of new indicators for retail sales, import prices and homebuilder confidence later today. SPACs may have some extra confidence of their own knowing that one of their major foes on the de-SPAC...
At the SPAC of Dawn After an up-and-down week on the market, all eyes are set to be glued to this morning’s Consumer Price Index readouts for signs of where the Fed might take its rate-cut strategy. US exchanges had a slightly positive day in reaction to Core PPI coming in at 0.1% for December...
Ribbon Acquisition Corp. (NASDAQ:RIBBU) announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RIBBU”, Wednesday, January 15, 2025. The new SPAC intends to take a generalist approach in searching for a business combination, but will not consider targets located in China. Ribbon’s...