Future Health ESG in an 8-K said it entered into a non-redemption agreement with a stockholder who agreed to reverse a requested redemption of 800,000 shares. The SPAC in return will issue to the participant one share of the company (resulting from a merger) for each non-redeemed share.
Future Health ESG won an extension to Dec. 31 on a shareholder vote following the NRA. In connection with the meeting, 655,090 shares were redeemed, removing $7 million from the SPAC’s trust. The SPAC will now have 936,447 public shares outstanding, or about $10 million in trust.
Future Health ESG had raised $200 million in a September 2021 IPO to target businesses that support value-based precision healthcare.
The SPAC in November 2022 terminated a merger agreement with Excelera Health. Read more.
