InvestIndustrial Acquisition in an 8-K filing disclosed that it has secured a redemption offset agreement for 12.5 million shares at $10 each.
The funds will be used to support the SPAC’s proposed merger with Italian mens clothier Ermenegildo Zegna Group.
At the time of the deal announcement in July, InvestIndustrial had $403 million in trust, a fully committed, upsized $250 million PIPE and approximately $225 million in a forward purchase agreement with Strategic Holding Group, an independently managed investment subsidiary of Investindustrial VII.
A SPAC shareholder vote is set for Dec. 15 on the $3.2 billion deal. Read more.
