Semper Paratus Acquisition in an 8-K said SSVK Associates will purchase the sponsor's 7,988,889 Class A shares and 1 million private placement units, each consisting of a share and one-half of a warrant. SSVKwill now take over the SPAC's operations.
Semper Paratus also disclosed that it entered into a subscription agreement with Polar Multi-Strategy Master Fund, which will make a $151,000 cash contribution to the sponsor. The funds will in turn be loaned to the SPAC for working capital. If and when the SPAC closes a deal, Polar Multi-Strategy Master Fund would receive 151,000 shares.
The SPAC last traded today at $11.20, up 3.7%.
Sempter Paratus raised $345 million in a November 2021 ipo but has yet to announce a deal. The SPAC has been in pursuit of opportunities in the transportation, supply chain and logistics industry in any stage of the target's corporate evolution. Read more.
Source: Semper Paratus Acquisition Sells Sponsor Shares, Secures 1K Loan