LVS III SPE XLIII, one of the sponsors of Freedom Acquisition I, sold its entire interest in the SPAC to NextG Tech Limited, according to a regulatory filing.
Freedom I in the 8-K filing said it also issued a note to its sponsor to borrow up to $500,000 for working capital. The sponsor may convert any of the outstanding loan amount into warrants exercisable at $1.50 for a share.
The SPAC raised $345 million in a March 2021 IPO with the stated goal of pursuing a target in the financial services sector. Read more.
