Latest Non-Redemption Agreements: 10X Capital Venture Acquisition Corp. II, New Providence Acquisition Corp. II, Roth CH Acquisition V Co., and Apollo Strategic Growth Capital II
10X Capital Venture Acquisition Corp. II (VCXA) Adds Non-Redemption Agreement
On May 2, 2023, certain investors of 10X II entered into non-redemption agreements with 10X II (NASDAQ:VCXA) and 10X Capital SPAC Sponsor II LLC.
Pursuant to the Non-Redemption Agreements, the 10X II Investors agreed for the benefit of 10X II to vote certain ordinary shares owned in favor of the extension and not redeem the securities.
In exchange for these commitments from the 10X II Investors, the Sponsor has agreed to transfer to the 10X II Investors an aggregate of 110,261 Class B ordinary shares and to the extent the Board agrees to further extend the date to consummate an initial business combination to the additional extension date, an aggregate amount of up to 330,782 Class B ordinary shares on or promptly after the consummation of the business combination.
The Non-Redemption Agreements are expected to increase the amount of funds that remain in 10X II’s trust account following the EGM relative to the amount of funds expected to remain in 10X II’s trust account had the Non-Redemption Agreements not been entered into.READ
New Providence Acquisition Corp. II (NPAB) Adds Non-Redemption Agreement
In connection with the special meeting in lieu of an annual meeting of stockholders of New Providence Acquisition Corp. II (NASDAQ:NPAB) to extend the completion deadline from May 9, 2023 to May 9, 2024, the company and New Providence Acquisition II LLC entered into share transfer agreements with several holders of the Company’s Class A common stock, pursuant to which the holders have agreed not to redeem an aggregate of 4,600,000 Class A Shares.
In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the sponsor has agreed to forfeit and surrender to the company for no consideration an aggregate of 1,380,000 Class A Shares and shares of Class B common stock and the Company has agreed to issue an aggregate of 1,380,000 Class A Shares to the holders at such time.READ
Roth CH Acquisition V Co. (ROCL) Adds Non-Redemption Agreement
On May 3, 2023, Roth CH Acquisition V Co. (NASDAQ:ROCL) entered into non-redemption agreements with certain stockholders owning, in the aggregate, 1,310,409 shares of the Company’s common stock, pursuant to which such stockholders agreed, among other things, not to redeem or exercise any right to redeem such public shares in connection with the extension.
Certain initial stockholders agreed to pay the stockholders that entered into such agreements $0.04 per share for each one-month extension in connection with such agreements. The company may enter into other agreements with one or more stockholders pursuant to which such stockholders will agree not to redeem all or a portion of their public shares in connection with the extension. No additional funds will be deposited into the trust.READ
Apollo Strategic Growth Capital II (APGB) Adds Non-Redemption Agreement
On May 2, 2023 and on May 3, 2023, APSG Sponsor II, L.P., the sponsor of Apollo Strategic Growth Capital II (NYSE:APGB), and the Company, entered into additional non-redemption agreements with several unaffiliated third parties and may continue to enter into additional non-redemption agreements.READ
Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...
Latest SPAC Liquidations: Juniper II Corp. Juniper II Corp. (JUN) to Liquidate on October 10, 2023 Juniper II Corp. (NYSE: JUN), today announced that its board of directors has determined to redeem all of its outstanding shares of Class A common stock with such redemption anticipated to be effective as of October 10, 2023. The...
TradeUP (NASDAQ:UPTD) announced in an 8-K this afternoon that has entered into additional subscription agreements in connection with its combination with Estrella Biopharma. Under these subscription agreements, Plentiful Limited and Lianhe World Limited, collectively known as the “Investors”, agreed to each buy $5,000,000 worth of UPTD’s common stock, priced at $10.00 per share. However, if,...
Vahanna Tech Edge Acquisition I Corp. (NASDAQ:VHNA) has closed its combination with insuretech firm Roadzen and its shares and warrants will begin trading on the Nasdaq tomorrow, September 21, under the symbols “RDZN” and “RDZNW”. The SPAC secured shareholder approval for the deal about a month ago in an August 25 vote and it has...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Abu Dhabi royal-backed firms to merge in region’s first SPAC deal ADC Acquisition Corporation (ADC.AD), a blank-cheque company backed by a prominent Abu Dhabi royal, has agreed to acquire state investment fund ADQ’s United Printing & Publishing,...