Plum Acquisition I issued a promissory note for up to $500,000 to Ursula Burns, executive chairwoman of the SPAC’s board.
Any portion of the note’s drawdown can be converted into warrants at $1.50 each.
Burns, who most recently served as chairwoman and CEO of VEON. Prior to VEON, she was the CEO of Xerox from 2010 to 2016.
The SPAC raised $300 million in a March 2021 IPO. Plum said at that time it intends to pursue opportunities with internet and software companies that leverage platform models in enterprise software, SMB software and infrastructure, or disruptive marketplace models. Read more.
