Capitalworks enters non-redemption agreements covering 400K shares; extends deadline to March 2024

Piermont Valley Acquisition Corp

Non-redemption agreements with holders not to redeem 400,000 Class A shares in exchange for forfeiture of 100,000 Class B shares by sponsor.
Extension of business combination deadline from June 3, 2023 to March 3, 2024, subject to shareholder vote.
Lexasure agreed to loan up to $600,000 to fund extension-related trust deposits and expenses.
Estimated trust account value $10.4925 per share as of May 15, 2023; company will deposit $50K/month for up to $450K if extension approved.

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