Anzu Special Acquisition I today in an 8-K said it entered non-redemption agreements with several shareholders in connection with the SPAC’s extension proposal. A vote to extend the deadline from March 4 to Sept. 30 has been delayed twice, most recently yesterday. The meeting is now scheduled for 9:30 a.m. Eastern on Feb. 28.
The SPAC has agreed to give 20,000 shares of Class B common stock to each participant in the agreement for every 100,000 shares held by the shareholder immediately following the meeting, up to a maximum of 80,000 Class B shares.
The SPAC earlier this month announced a non-binding letter of intent to pursue a potential merger with Envoy Medical, which has developed an FDA-approved cochlear implant to aid individuals with severe hearing loss. The SPAC expects to execute a definitive agreement by the end of this month. Terms would include a requirement that Anzu have at least $40 million in trust at closing. Read more.
