bleuacacia and its sponsor in an 8-K said they have entered into non-redemption agreements with three unaffiliated third parties, under which the paerticipants agreed not to redeem 384,929 Class A shares ahead of the SPAC’s extension vote. In exchange, those investors would received 115,479 Class B shares immediately following completion of a business combination.
The SPAC wants to push its deadline from February to Nov. 22, 2024. A shareholder voted is slated for Jan. 2.
As of Dec. 28, bleuacacia said its trust stood at just over $17 million.
The SPAC raised $240 million in a November 2021 IPO to focus on “acquisitions of global high-growth premium consumer-facing brands that have a powerful emotional engagement with millennial and Gen-Z consumers.”
The SPAC earlier this month said its sponsor has received and is considering a number of offers for the purchase of a portion of its ownership interest in the blank-check company. Read more.
