Juniper II in a proxy amendment said it has signed a non-redemption agreement with seven unaffiliated parties who will hold onto 2,240,900 shares or reverse redemption requests if already made. The agreement comes just as shareholderrs are set to vote May 2 on a proposal that would extend the SPAC's termination date to Nov. 8 from the current May 8 deadline.
In return, the investors participating in the non-redemption agreement will receive 672,270 shares of the Juniper II Class B stock.
Additional non-redeem agreements are expected before the shareholder vote next week, the SPAC said in the regulatory filing.
Juniper II raised $260 million in a November 2021 ipo with plans to pursue North American-based targets in the industrial sector with an aggregate enterprise value of $1 billion to $2 billion. Read more.