Trajectory Alpha Acquisition agreed to sell its sponsor shares for $250,000 plus $1 to J. Streicher Holdings. The sponsor will transfer to the acquirer 2,170,464 Class B shares and 4,525,000 warrants.
Concurrently with the execution of the agreement comes a change in management and board members. Paul Davis, the COO of J, Streicher, will be the new CEO of Trajectory Alpha.
Trajectory Alpha has yet to announce a deal and faces a June 14 termination deadline, although a shareholder meeting is set for Thursday, when investors will consider an extension until March 2024.
The SPAC raised $174.2 million in a December 2021 with the objective of merging with a disruptive, technology-driven business that leverages unique intellectual property and proprietary data. Read more.