Latest Non-Redemption Agreements: EVe Mobility and Swiftmerge
EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement
On June 7, EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary Shares. The Non-Redemption Agreements with investors are with respect to an aggregate of 4,000,000 Class A Ordinary Shares.
Pursuant to the Non-Redemption Agreements, the sponsor has agreed to transfer to the investors for the initial extension, a number of founder shares equal to 21% of the number of Non-Redeemed Shares, or 840,000 Founder Shares, and for each additional monthly extension, a number of Founder Shares equal to 3.5% of the number of Non-Redeemed Shares, or 140,000 Founder Shares for each Additional Monthly Extension, or up to an aggregate of 1,680,000 Founder Shares if the initial extension and all Additional Monthly Extensions are implemented.
READSwiftmerge Acquisition Corp. (IVCP) Adds Non-Redemption Agreement
On June 6, Swiftmerge Acquisition Corp. (NASDAQ:IVCP) entered into voting and non-redemption agreements with one or more unaffiliated third party or parties in exchange for each such third party or third parties agreeing not to redeem Class A ordinary shares at the meeting.
In exchange for the foregoing commitments not to redeem such shares, the company has agreed to among other items: file a registration statement on Form S-1 with the SEC to permit the resale of the Shareholders’ Class A Ordinary Shares issuable upon conversion of the Company’s Class B ordinary shares within 30 days following the closing of the initial business combination and will use its best efforts to cause the registration statement to be declared effective by the SEC within 90 days after the closing of the Business Combination; the Class B Ordinary Shares owned by the shareholders will automatically convert into Class A Ordinary Shares upon the closing of the deal; and the shareholders shall not be required to enter into any lock-up agreement with respect to the Class A Ordinary Shares and Class B Ordinary Shares in connection with the transaction.
READEF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...
FG Merger III Corp. filed for a $150 million IPO yesterday afternoon, marking the third SPAC to file on Wednesday. Similar to Blue Room (NASDAQ:IBLUU), which filed its $200 million IPO yesterday morning, FG Merger III intends to focus its search for a target business in the financial services industry in North America. Notably, FG...
10X Capital Venture Acquisition Corp. II (NASDAQ:VCXA) announced that it has completed its business combination with African Agriculture after shareholders approved the deal at a special meeting held on December 5. In connection with the meeting, 10X II received redemption requests for 1,857,033 Class A ordinary shares, representing 98.7% in aggregate redemptions since 10X II’s...