Capitalworks SPAC enters non-redemption agreements to extend deadline to March 2025

Piermont Valley Acquisition Corp

Holders agree not to redeem 1,025,000 Class A shares; sponsor to forfeit up to 307,500 founder shares.
Forfeited shares issued to holders; trust account estimated at ~$11.07 per share as of Feb 27, 2024.
Extraordinary meeting to approve charter extension from March 3, 2024 to March 3, 2025.
Non-redemption deals expected to increase trust funds remaining after the meeting.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Piermont Valley Acquisition Corp entered into Non-Redemption Agreements with certain unaffiliated third parties valued at an aggregate of 1,025,000 Class A ordinary shares (effective 2024-02-27).

Action: entry
Counterparty: certain unaffiliated third parties
Value: an aggregate of 1,025,000 Class A ordinary shares
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Capitalworks Emerging Markets Acquisition Corp (the “ Company ”) and the Company’s sponsor, CEMAC Sponsor LP (the “ Sponsor ”), entered into non-redemption agreements (the “ Non-Redemption Agreements ”) with certain unaffiliated third parties (each, a “ Holder ,” and collectively, the “ Holders ”)

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Piermont Valley Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-028813

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