Sponsor Seaport Global SPAC has agreed to purchase 5,500,000 warrants (or 6,062,500 warrants if the over-allotment option is exercised in full) at a price of $1 per warrant ($5.5 million in the aggregate, or aproximately $6.1 million if the over-allotment option is exercised in full). The private placement will close simultaneously with the closing of the IPO.
The SPAC in the filing said “we intend to focus our search on companies emerging from a reorganization or distressed situation.” Read more.
