Apollo Strategic Growth Capital II in an 8-K said it entered into a non-redemption agreement with an unaffiliated third party who agrees not to redeem 650,413 Class A shares ahead of an upcoming extension vote. The SPAC wants to move its deadline from May 12 to Feb. 12, 2024. In return, the non-redeeming investor would receive 162,603 sponsor shares.
The SPAC raised $600 million in an ipo more than two years ago. Led by CEO and director sanjay patel, Apollo is targeting growth-oriented companies. Read more.
Source: Apollo Strategic Growth Capital II Inks Non-Redemption Agreement