DHC Acquisition today in an 8-K said it signed a non-redemption with several investors who will hold onto 400,000 shares in connection with an extension vote that would push the SPAC’s termination deadline back to Dec. 4.
In return, DHC’s sponsor agreed to transfer 150,000 Class B shares to the investors following the closing of a busines combination.
DHC said it may yet enter into additional non-redemption agreements in connection with the extension meeting.
The SPAC in January abandoned a deal with now-defunct GloriFi. Announcement of the deal termination was merely a formality, as GloriFi, a neobank that billed itself as a bank for the “anti-woke,” announced in November that it would shut down just two months after its launch.
DHC raised nearly $310 million in an April 2021 IPO. Read more.
