Capitalworks enters non-redemption agreement for 399,737 shares; sponsor to forfeit 99,935 Class B shares

Piermont Valley Acquisition Corp

Agreement with unaffiliated third-party holder in exchange for not redeeming 399,737 Class A shares at May 2023 meeting.
Sponsor will forfeit 99,935 Class B shares; Company will issue same number of Class A shares to holder at business combination close.
Aggregate non-redemption agreements now cover 4,399,737 Class A shares; total forfeited shares = 1,099,935.
Agreements aim to increase trust account funds remaining after meeting; shareholder vote on extension to March 3, 2024.
Redemption withdrawal deadline is May 23, 2023; meeting to approve charter amendments.

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