Capitalworks issues 5.75M Class A shares on conversion of Class B shares to sponsor

Piermont Valley Acquisition Corp

On May 23, 2023, issued 5,749,999 Class A ordinary shares to CEMAC Sponsor LP upon conversion of Class B ordinary shares.
Issuance is exempt from registration under Section 3(a)(9) of the Securities Act of 1933.
Converted shares carry same restrictions as original Class B shares: transfer limits, redemption waiver, vote-for-deal obligation.

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