BlueRiver Acquisitions Signs NRA for 200K Shares

BlueRiver Acquisition said it entered into a non-redemption agreement with or more unaffiliated third parties who've agreed not to redeem 200,000 shares at the upcoming extension vote.

If shareholders approve, the SPAC will push its deadline from Aug. 2 to Feb. 2, 2024.

participating in the NRA would receive 40,000 shares immediately following the closing of a business combination, according to an 8-K filing.

The NRA announcement comes a day after the SPAC announced a merger deal with Spinal Stabilization Technologies, a medical device company focused on developing and then commercializing a proprietary lumbar implant for nucleus pulposus replacement to alleviate certain types of lower back pain.

The combined company would have an estimated post-transaction enterprise value of approximately $302 million. That figure assumes a proposed $40 million and 100% redemptions by BlueRiver shareholders. Read more.

Source: BlueRiver Acquisitions Signs NRA for 200K Shares