The Latest Non-Redemption Agreements: September 14, 2023
by Marlena Haddad on 2023-09-14 at 5:34pm

Latest Non-Redemption Agreements: Byte Acquisition Corp.


Byte Acquisition Corp. (BYTS) Adds Non-Redemption Agreement

On September 14, BYTE Acquisition Corp. (NASDAQ:BYTE) entered into an amendment to the non-redemption agreement previously entered into on March 8 with an existing shareholder holding 1,000,000 Class A ordinary shares.

Pursuant to the Non-Redemption Agreement, the shareholder agreed to not redeem any Class A Ordinary Shares held by them on the date of the agreement in connection with the vote to amend the company’s completion deadline from September 25 to December 26 and to allow the company, without another shareholder vote to elect to further extend such date by three months until March 26, 2024 and vote all of their shares in favor of the extension presented by the company for approval by its shareholders.

In connection with the foregoing, the company agreed to extend its obligation to pay to the shareholder $0.033 per share in cash per month through the extended date and additional extended date, if applicable.

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