Berenson Acquisition I in an 8-K said it entered into a non-redemption agreement with one or more unaffiliated third parties in exchange for their commitment not to redeem 655,715 shares ahead of an extension vote tomorrow. Neither the 8-K nor the attached agreement states what incentive the participating investor would receive.
The SPAC wants to push its completion deadline until as late as Sept. 30, 2024. Berenson I held approximately $27 million in trust as of Sept. 5.
The SPAC raised $275 million in an October 2021 IPO with plans to focus on businesses operating in the software and technology-enabled services industry, although redemptions have hollowed out the trust since then. Read more.
