The Latest Non-Redemption Agreements: April 6, 2023
by Marlena Haddad on 2023-04-06 at 5:39pm

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.

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ShoulderUp 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.

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ExcelFin 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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