GSR II Meteora Acquisition in an 8-K swaid it has secured non-redemption agreements with certain investors who will hold 6,783,000 shares through the upcoming extension vote.
In return, the SPAC said it will issue 67,830 shares to the non-redeeeming participants, plus up to 135,660 shares in connection with each monthly extension up to March 2024, if the extra time is required.
The SPAC has a merger agreement with Bitcoin Depot, a fintech and Bitcoin ATM operator. The deal at announcement in August had a post-transaction enterprise value of $755 million. Net proceeds are expected to consist of up to $321 million of cash held in the SPAC's trust, less any redemptions, and will be used to support Bitcoin Depot's working capital, complete acquisitions, and scale its platform and suite of products. Read more.