Latest Non-Redemption Agreements: Alpha Healthcare III
Alpha Healthcare Acquisition Corp. III (ALPA) Adds Non-Redemption Agreement
On July 9, Alpha Healthcare III (NASDAQ:ALPA) entered into a Non-Redemption Agreement with Meteora Select Trading Opportunities Master, LP pursuant to which the seller agreed not to exercise redemption rights under the charter with respect to an aggregate of 100,000 shares.
Additionally, there is a Forward Purchase Agreement whereby the sellers (Meteora) have the option to buy a certain number of shares of Alpha Common Stock before the business combination closing of up to 9.5%, the “Recycled Shares.” The sellers will buy the remaining shares from the combined company at a price equal to the redemption price set for holders of Alpha Common Stock who want to sell their shares during the merger.
The Forward Purchase Agreement provides that the Sellers will be paid directly an aggregate cash amount (the “Prepayment Amount”) equal to (x) the product of (i) the Number of Shares as set forth in the Pricing Date Notice (as defined in the Forward Purchase Agreements) and (ii) the Initial Price.
READ
Terms Tracker for the Week Ending October 11, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week was sandwiched in between the Rosh Hashanah and Yom Kippur holidays, and as such, it was on the lighter side for news. In...
Much has been written about the rise and fall of companies from the last SPAC cycle. But, the turning tides of the past month would seem to suggest that perhaps more than a SPAC-specific trend, what the market saw was mostly macro factors all along. In the aggregate, the 199 companies that listed via DeSPAC...
At the SPAC of Dawn October is quickly catching up to last month’s SPAC IPO figures and is now pacing to break them with two more SPACs pricing last night. This comes amid continued signals that the IPOs of all kinds are not keeping up with rising market sentiment and a high demand for private...
Rising Dragon Acquisition Corp. announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RDACU”, Friday, October 11, 2024. The new SPAC does not plan to target a particular industry or geography in its combination search but plans to leverage the experience of...
Cohen Circle Acquisition Corp. I announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIRU”, Friday, October 11, 2024. The Company’s primary focus will be to identify companies in the financial services technology (fintech) sector and fintech adjacent sectors that power transformation...