Item 1.01 Entry into a Material Definitive Agreement.
On
In connection with the Extension Amendment, public stockholders may elect to
redeem their shares for a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account established in connection
with the Company's initial public offering (the "Trust Account"), including
interest not previously released to the Company to pay franchise and income
taxes, divided by the number of then outstanding public shares. If the Extension
Amendment is approved by the requisite vote of stockholders, the remaining
holders of public shares will retain their right to redeem their public shares
when the business combination is submitted to the stockholders, subject to any
limitations set forth in the Charter, as amended by the Extension Amendment.
However, the Company will not proceed with the Extension Amendment if the
redemption of public shares in connection therewith would cause the Company to
have net tangible assets of less than
A form of the non-redemption agreement is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the non-redemption agreements and the transactions contemplated thereby is not complete and is qualified in its entirety by reference to the form of non-redemption agreement filed herewith.
Item 9.01 Financial Statements and Exhibits
Exhibit Number Description 10.1 Form of Non-Redemption Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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