Facing a Feb. 19 termination deadline, Seaport Global Acquisition II in an 8-K said it signed non-redemption agreements for 1,581,138 shares ahead of the Feb. 13 shareholders meeting when a vote on a proposed deadline extension is expected. Holders of those shares would receive 395,284 shares for their commitment to not redeem.
The SPAC wants until August to complete a deal, having raised $125 million in a November 2021 IPO to focus on companies undergoing transformational, transitional, or reorganizational business strategies.
Seaport Global II last month said it had signed non-redemption agreements with investors holding 200,000 shares. As consideration, those shareholders would receive 50,000 shares controlled by the SPAC’s sponsor. Read more.
