GBTG offers 0.275 shares per warrant in exchange; 40.56% of public warrants already committed

Global Business Travel Group, Inc.

Exchange offer for all 39.45M outstanding warrants (27.23M public, 12.22M private) at 0.275 shares per warrant, up to 10.85M shares issued.
Expires Oct 7, 2022; holders of 40.56% of public warrants and 100% of private warrants have agreed to tender under a support agreement.
Concurrent consent solicitation to amend warrant agreement; if approved, outstanding warrants convert into 0.2475 shares (10% less than offer).
Amendment requires >50% of public warrants; with 40.56% already supporting, an additional ~9.44% needed for adoption.
After exchange, Class A shares could reach ~67.8M; all warrants eliminated, simplifying capital structure.

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