DHC Acquisition enters non-redemption agreements to extend business combination deadline to Dec 4, 2023

Brand Engagement Network Inc.

Sponsor to transfer 150,000 Class B shares to third parties in exchange for not redeeming 400,000 Class A shares at extension vote.
Extension meeting to approve amendment moving deadline from March 4, 2023 to December 4, 2023.
Non-redemption agreements increase funds remaining in trust account after extension vote.
Company may enter additional similar agreements with other shareholders.

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

Brand Engagement Network Inc. entered into Non-Redemption Agreements with several unaffiliated third parties valued at an aggregate of 400,000 previously-held Class A ordinary shares.

Action: entry
Counterparty: several unaffiliated third parties
Value: an aggregate of 400,000 previously-held Class A ordinary shares

Exact text from the filing

the Company and DHC Sponsor, LLC (the “Sponsor”), have entered into one or more non-redemption agreements (the “Non-Redemption Agreements”), with several unaffiliated third parties, pursuant to which such third parties agreed not to redeem (or to validly rescind any redemption requests on) an aggregate of 400,000 previously-held Class A ordinary shares of the Company (“Non-Redeemed Shares”) in connection with the Articles Extension.

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Brand Engagement Network Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-054692

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