Latest Non-Redemption Agreements: Inception Growth and Byte
Inception Growth Acquisition Limited (IGTA) Adds Non-Redemption Agreement
On March 6, Inception Growth (NASDAQ:IGTA) and its sponsor, Soul Venture Partners LLC, entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 2,100,000 shares of its common stock in connection with its extension vote on March 13.
The SPAC intends to extend its timeline by six months without having to make any payment to the trust account. In exchange, the sponsor has agreed to transfer up to 630,000 shares to the third parties following the meeting.
On March 7, Inception Growth and its sponsor entered into additional Non-Redemption Agreements with certain unaffiliated third parties holding an aggregate of 625,000 shares. In exchange for the foregoing commitments not to redeem, the sponsor has agreed to transfer up to 187,500 shares to the parties following the meeting.
READByte Acquisition Corp. (BYTS) Inks Non-Redemption Agreement
On March 8, 2023, BYTE Acquisition Corp. (NASDAQ:BYTS) entered into non-redemption agreements with certain existing shareholders.
Pursuant to the non-redemption agreements, each of the shareholders agreed to not redeem 1,000,000 Class A Ordinary Shares in connection with the vote to extend the company’s completion date from March 23, 2023 to September 25, 2023, and vote their shares in favor of the extension.
In connection with the foregoing, the company agreed to pay to each Non-Redeeming Shareholder $0.033 per Share in cash per month through the Extended Date.
READ
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: DWAC rises in wake of Trump’s indictment, Senator Kennedy introduces SPAC Act to protect investors, and Abacus Life appoints new managing director DWAC rises in wake of Donald Trump’s indictment Shares of Digital World...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to once again adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 13. The SPAC has been using these additional days to further engage with its shareholders and its ballot includes measures...
Latest SPAC Liquidations: JAWS Juggernaut Acquisition Corp., Talon 1 Acquisition Corp. JAWS Juggernaut Acquisition Corporation (JUGG) to Liquidate on June 22 JAWS Juggernaut Acquisition Corporation (Nasdaq: JUGG) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the...
Rice II (NYSE: RONI) announced today that it has completed its combination with energy technology company NET Power. The deal was originally approved by shareholders at a special meeting yesterday with relatively low redemptions. A total of 21,195,224 shares were redeemed in connection to the vote, removing 61% of Rice II’s trust. NET Power is to...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: BlackSly and Momentus win contracts, Terran Orbital’s CAPSTONE completes primary mission, and Richard Branson puts himself and Virgin brand on trial BlackSky and Momentus Win Contracts Momentus (NASDAQ:MNTS) has won a contract with Apogeo...