Social Leverage Acquisition I entered into additional non-redemption agreements with three unaffiliated shareholders for up to 345,220 shares. The participants currently hold 297,767 shares and one of the shareholders may purchase up to 47,453 additional shares.
The SPAC has a meger agreement with W3B Cloud. Last month Social Leveral I lopped 44% off the deal valuation and W3BCLOUD agreed to lower the minimum cash condition from $150 million to $40 million.
This follows the SPAC;s extension vote in January when 95% of its shares were redeemed.
Founded in 2018, W3BCLOUD provides storage and compute infrastructure to power Web3's decentralized economy. Read more.