Gesher I Acquisition in a regulatory filing said its spponsor loaned $250,000 to the SPAC for working capital. Any portion of the note may be converted into warrants exercisable for a share at $11.50.
Gesher I last month raised a $10 million backstop. The proactive committment comes on the heels of the SPAC’s amended $40 million forward purchase agreement and separate $10M backstop deal with M&G Investment Management.
The SPAC raised $100 million in an October 2021 IPO. The SPAC intends initially to focus on target businesses in Israel, particularly those conducting business internationally in Asia, Europe or North America. Read more.
