KnightSwan Acquisition in an 8-K said it entered into a non-redemption agreement with an unaffiliated third party who agreed not to redeem 400,000 shares ahead of an upcoming extension vote that would move the SPAC’s termination deadline to July 25, 2024. In return, the SPAC’s sponsor will give the non-redeeming shareholder 133,200 shares of Class B stock.
The SPAC raised $230 million in a January 2022 IPO to focus on businesses at the leading edge of technological innovation in three key sectors: cloud, cybersecurity, and mission intelligence. It has yet to announce a deal. Read more.
