Cactus Acquisition 1 in an 8-K said it entered into a sponsor securities purchase agreement under which the Sponsor transferred 2.53 million founders’ shares and one Class B ordinary share, as well as almost 3.9 million private placement warrants that had been purchased by the sponsor at the SPAC’s IPO in November 2021. The transferred securities amount to 80% of the securities owned by the sponsor. The sponsor has retained 632,501 founders’ shares and 973,333 private warrants.
EVGI Limited acquired the sponsor stake. As a result, the SPAC will come under new management.
Today, immediately upon the closing of the transfer, CEO Ofer Gonen resigned along with CFO Stephen T. Wills. Chairman Nachum (Homi) Shamir and Dr. Hadar Ron, a director, also stepped down.
Cactus 1 has been focused on Israel-related technology-based healthcare companies. It has a deadline coming up in November.
