Software Acquisition Group III in an 8-K filing said redemptions in connnection with its Nogin deal totaled 18,865,680 shares, or 82.7% of shares outstanding. Additional funding sources, including a PIPE, are sufficient to get the deal across the finish line.
Nogin is a Commerce-as-a-Service provider.
The SPAC in April said the deal’s cash consideration was lowered from $20 million to $15 million and the share consideration was increased by a proportionate amount. The SPAC also has PIPE agreements for up to $75 million in funding. Read more.
