Cactus Acquisition 1 in a filing said it has signed a non-redemption agreement with one or more of its shareholders who agreed not to redeem 1,999,900 shares ahead of an upcoming extension vote. In return, those investors would receive 199,990 founder shares.
The SPAC seeks shareholder approval to stretch its termination deadline to Nov. 2, 2024.
A shareholder meeting to vote on the matter is scheduled for Nov. 2, the SPAC’s current deadline. The proxy does not mention any additional contributions to the trust in return for a favorable vote.
Cactus 1 raised $126.5 million in an upsized IPO two years ago. The SPAC is focused on Israel-related technology-based healthcare companies. Read more.
