Latest Non-Redemption Agreements: Banyan, ShoulderUp Technology, and ExcelFin
Banyan Acquisition Corp. (BYN) Adds Non-Redemption Agreement
In connection with the extension meeting of Banyan Acquisition Corporation (NYSE:BYN), the company and its sponsor have entered into a non-redemption agreement with an unaffiliated third party, pursuant to which such third party has agreed not to redeem an aggregate of 559,600 shares of Class A common stock.
Pursuant to such agreement, the sponsor has agreed to transfer an aggregate of 139,900 shares of Class B common stock of the company to the third party.
READShoulderUp Technology Acquisition Corp. (SUAC) Adds Non-Redemption Agreement
On April 5, 2023, ShoulderUp Technology Acquisition Corp. (NYSE:SUAC) and its sponsor entered into one or more agreements with one or more third parties in exchange for them agreeing not to redeem shares of the company’s common stock at its extension meeting.
READExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement
In connection with the extension meeting of ExcelFin Acquisition Corp. (NASDAQ:XFIN), the company and its sponsor have entered into additional non-redemption agreements with unaffiliated third parties, pursuant to which such third parties have agreed not to redeem an aggregate of 5,020,000 Class A common shares.
In exchange for the foregoing commitments, the sponsor has agreed to transfer an aggregate of 1,255,000 Class B common shares of the company to the third parties.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...