EVe Mobility Acquisition in an 8-K said it entered into non-redemption agreements with unaffiliated third party investors who agreed not to redeem their shares ahead of a June 14 extension vote on the SPAC’s merger deadline.
The SPAC said it intends to enter into non-redemption agreements covering up to 4 million shares. In return, the sponsor has agreed to transfer to the participating investors a number of founder shares equal to 21% of the non-redeemed shares, and for each additional monthly extension, will distribute the the parties founder shares equal to 3.5% of non-redeemed shares.
EVe and its sponsor may enter into additional non-redemption agreements.
Shareholders are being asked to consider an extension until at least December with an option for the EVe board at its discretion to streatch the deadline in further monthly increments until June 2024.
The blank check company has been focused on the mobility-related ecosystem and related areas. This landscape encompasses traditional automotive sectors as well as technological subsectors that are driving the advancement of the industry as a whole.
Based on cash in the trust as of June 5, 2023, which was nearly $264 million, the per-share redemption price will be approximately $10.54 at the time of the meeting. Read more.
