The Latest Non-Redemption Agreements: August 3, 2023
by Marlena Haddad on 2023-08-03 at 5:47pm

Latest Non-Redemption Agreements: HH&L Acquisition Co.


HH&L Acquisition Co. (HHLA) Adds Non-Redemption Agreement

On August 3, HH&L Investment Co., the sponsor of HH&L Acquisition Co. (NYSE:HHLA), and the company, entered into an agreement with unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 500,000 shares of Class A ordinary shares at the general meeting.

In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to such investors an aggregate of 100,000 shares of Class B ordinary shares promptly following consummation of an initial business combination if they continue to hold such shares through the meeting.

The Non-Redemption Agreement is not expected to increase the likelihood that the extension is approved by shareholders but will increase the amount of funds that remain in the trust account following the meeting.

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