Battery Future Acquisition in an 8-K said it signed another non-redemption agreement with Camel Bay, which agreed to hold 650,000 shares through the SPAC’s proposed deadline extension to June 17, 2025.
In return, Camel Bay would receive 162,500 Class B shares for the first nine months of the extension period, if approved, and 16,250 additional founder shares for each subsequent month needed during the extension period.
Additionally, Battery Future postponed the extension vote until tomorrow afternoon “to allow additional time for the company to engage with its shareholders and effectuate redemption reversals and/or enter into additional non-redemption agreements,” the filing states.
The SPAC last week announced the signing of a separate NRA covering more than 2 million shares.
Battery Future on May 14 announced a $135 million deal with Class Over. The target, founded in 2020 and headquartered in New York, has emerged as a player in the educational technology sector, specializing in interactive online live courses for K-12 students both domestically and internationally. Read more.
