Insight Acquisition Corp. enters into merger agreement with Alpha Modus, valuing equity at $110M

ALPHA MODUS HOLDINGS, INC.

Merger values Alpha Modus equity at $110M; Alpha Modus stockholders to receive up to 11M SPAC shares at $10/share.
Earnout: up to 2.2M additional shares if SPAC stock hits $13, $15, $18 thresholds within five years post-close.
Sponsor deposits 750K shares into escrow subject to same earnout milestones as Alpha Modus stockholders.
Combined company to repay up to $1M each to Polar Multi-Strategy Fund and Janbella, issuing shares at $1.
Closing expected on or before June 7, 2024; subject to shareholder approvals and other conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ALPHA MODUS HOLDINGS, INC. entered into business combination agreement and plan of merger with Insight Acquisition Corp., IAC Merger Sub Inc. valued at $110,000,000 consideration; up to 11,000,000 Common Shares issuable; up to 2,200,000 Alpha Modus Ear (effective 2023-10-13).

Action: entry
Agreement: merger
Counterparty: Insight Acquisition Corp., IAC Merger Sub Inc.
Value: $110,000,000 consideration; up to 11,000,000 Common Shares issuable; up to 2,200,000 Alpha Modus Ear
Effective: 2023-10-13

Exact text from the filing

Effective as of October 13, 2023, Insight Acquisition Corp., a Delaware corporation (" SPAC "), IAC Merger Sub Inc., a Florida corporation (" Merger Sub ") and Alpha Modus, Corp., a Florida corporation (" Alpha Modus "), entered into a business combination agreement and plan of merger

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ALPHA MODUS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001013762-23-004184

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