bleuacacia ltd. secured a non-redemption agreement covering 53,600 shares to support its roposed deadline extension. The SPAC wants shareholders at a May 19 meeting to grant an extension to Aug. 22, while allowing the company without another shareholder vote to extend the termination date on a monthly basis for up to six times.
In exchange for their commitment not to redeem shares, investors who are party to the agreemewnt would get 13,400 Class B shares held by the sponsor.
The SPAC in an 8-K said it may pursue additional non-redemption agreements from time to time with other unaffiliated third parties.
Consumer brand-focused bleuacacia raised $240 million in a November 2021 IPO. The SPAC has said its focus is specifically on “acquisitions of global high-growth premium consumer-facing brands that have a powerful emotional engagement with millennial and Gen-Z consumers.” Read more.
