EVe Mobility Acquisition Adds Another Non-Redemption Agreement

EVe Mobility Acquisition in an 8-K said it entered into additional non-redemption agreements with unaffiliated third party who agreed not to redeem their shares ahead of a June 14 extension vote on the SPAC's merger deadline. The agreements with investors cover 4 million shares. In return, the sponsor has agreed to transfer founder shares equal to 21% of the non-redeemed shares, or 840,000 founder shares, and for each additional monthly extension, founder shares equal to 3.5% of the non-redeemed shares, or 140,000, up to an aggregate of 1.68 million founder shares if the initial extension and all further monthly extensions are used.

The SPAC earlier this week entered into non-redemption agreements covering up to 4 million shares on the same terms as the latest agreement.

Shareholders are being asked to consider an extension until at least December with an option for the EVe board at its discretion to streatch the deadline in further monthly increments until June 2024.

The blank check company has been focused on the mobility-related ecosystem and related areas. This landscape encompasses traditional sectors as well as technological subsectors that are driving the advancement of the industry as a whole. Read more.

Source: EVe Mobility Acquisition Adds Another Non-Redemption Agreement