The Latest Non-Redemption Agreements: July 11, 2023
by Marlena Haddad on 2023-07-11 at 5:32pm

Latest Non-Redemption Agreements:  KnightSwan Acquisition Corp.


KnightSwan Acquisition Corp. (KNSW) Adds Non-Redemption Agreement

On July 10, KnightSwan Acquisition Corp. (NYSE:KNSW) and its sponsor entered into a non-redemption agreement with an unaffiliated third party.

Pursuant to the Non-Redemption Agreement, the investor agreed not to redeem an aggregate of 400,000 shares of Class A common stock at the special meeting to approve an extension from July 25, 2023 to July 25, 2024.

In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to the investor an aggregate of 133,200 shares of Class B common stock immediately following consummation of an initial business combination. The Non-Redemption Agreement is not expected to increase the likelihood that the extension proposal is approved by shareholders but will increase the amount of funds that remain in the trust account following the meeting.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2024-02-22 at 2:50pm

Moringa (NASDAQ:MACA) has entered into a definitive agreement to combine with clinical-stage biotech firm Silexion at a pre-transaction equity value of $62.5 million. Modi’in-Maccabim-Reut, Israel-based Silexion is developing a range of potential cancer treatments with its most advanced efforts targeting pancreatic cancer. The combined company is expected to trade on the Nasdaq once the deal...

by Nicholas Alan Clayton on 2024-02-22 at 1:32pm

News and Rumors CityWire: A subsidiary of Allianz (DE:ALV) and Constellation Wealth Capital have signed on to invest $400 million in asset management firm AlTi Global (NASDAQ:ALTI), purchasing a combination of ordinary shares and Series A convertible preferred stock. AlTi is up 21% in midday trading on the news. It combined with Cartesian Growth in...

by Nicholas Alan Clayton on 2024-02-22 at 10:47am

AltEnergy (NASDAQ:AEAE) has entered into a definitive agreement to combine with automotive parts manufacturer Car Tech at a yet undisclosed enterprise value. Opelika, Alabama-based Car Tech manufactures stamped metal parts that make up automotive chassis and bodies for car makers. The combined company is expected to trade on the Nasdaq once the deal is completed...

by Nicholas Alan Clayton on 2024-02-22 at 7:43am

At the SPAC of Dawn Once upon a time, Lucid (NASDAQ:LCID) and its SPAC partner Churchill IV, were the darlings of retail investors and meme stock traders, but a new de-SPAC has emerged with promises of zooming investors to the moon. Intuitive Machines (NASDAQ:LUNR), which combined with Inflection Point in February 2023, today aims to...

by Nicholas Alan Clayton on 2024-02-21 at 2:04pm

This year has been heralded as the year that the dam would finally break on the backlog of IPO candidates seeking to take the regular way to the public markets. So far, that has been the case with 22 companies pricing regular way IPOs after just 58 did so in all of 2022 and 101...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved