Mountain & Co. I Acquisition in an 8-K said it signed a forward purchase agreement with Meteora funds, which agreed to bvuy up to 12.5 million Class A shares, without obligation to exceed 9.9% of shares outstanding unless Meteora chooses to waive that limitation. The per-share purchase price would be no higher than the redemption price.
Meteora would buy Mountain shares from the FPA funding amount through a PIPE subscription agreement and from third parties on the open market.
The SPAC has a Nov. 9 deadline to complete an acquisition. The current extension was approved in February, although redemptions ahead of the extension vote removed approximately $113 million from the SPAC’s trust, leaving about $128 million.
Mountain raised $200 million in a November 2021 IPO to focus on the consumer internet and B2B digital infrastructure sectors. Read more.
