Battery Future Acquisition in an 8-K said it entered into a non-redemption agreement yesterday with certain investors covering 687,500 shares. The participating investors would receive up to an aggregate of 137,500 Class B shares for holding onto their stock through the SPAC’s upcoming extension vote.
This is the SPAC’s third announced NRA in the last two weeks. Last month Battery Future signed an NRA covering 750,000 shares and another last week covering 3,563,000 shares.
Battery Future is asking shareholders to approve a deadline extension to June 17, 2024. The SPAC raised $300 million in a December 2021 IPO. Read more.
