S-4 Filing

If approved, the sponsor in return would deposit the lesser of $325,000 or 3.25 cents a share into the Papaya I trust for each one-month extension.

Redwoods had previously warned it "expects that there will be significant redemptions at the special meeting” and has sweetened the deposit offer in an apparent effort to discourage those potential share redemptions.

Black Mountain raised $240 million in an October 2021 IPO to focus on the energy value chain.

The SPAC raised $100 million in a November 2021 IPO.

The SPAC raised $150 million in an IPO two years ago to target companies involved in cutting-edge media, entertainment and digital technology.

For each month required, the SPAC's sponsor will deposit the lesser of $160,000 or 4 cents a share.

The transaction is expected to deliver up to approximately $176 million of cash held in the SPAC's trust account. There is a $50 million minimum cash condition for the deal to close. Industrial Tech II has also said it may raise additional funding via a PIPE, if necessary.

Fortune Rise in January signed a letter of intent for a potential merger with Water on Demand.

This would be Yotta's second extension following announcement in October of a merger agreement with the seafood company.

Cactus 1 raised $126.5 million in an upsized IPO in October 2021. The SPAC is focused on Israel-related technology-based healthcare companies.