Plum Acquisition Corp. I enters into Business Combination Agreement with Sakuu Corporation

VEEA INC.

Plum Acquisition Corp. I (PLMI) will merge with Sakuu Corporation, valuing Sakuu at $600 million.
Under the agreement, Plum will redomesticate to Delaware and change name to Sakuu Holdings, Inc.
The transaction requires at least $35 million net closing cash and Nasdaq listing approval.
Polar Multi-Strategy Master Fund agrees to purchase up to 2.5 million shares under a Forward Purchase Agreement.
Sponsor Plum Partners LLC agrees to vote in favor and transfer 500,000 shares for cancellation.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

VEEA INC. entered into Business Combination Agreement with Sakuu Corporation, Plum SPAC 1 Merger Sub, Inc., and Plum SPAC 2 Merger Sub, LLC valued at $600,000,000.00 (effective 2023-03-02).

Action: entry
Agreement: merger
Counterparty: Sakuu Corporation, Plum SPAC 1 Merger Sub, Inc., and Plum SPAC 2 Merger Sub, LLC
Value: $600,000,000.00
Effective: 2023-03-02

Exact text from the filing

On March 2, 2023, Plum Acquisition Corp. I, a Cayman Islands exempted company limited by shares (“Plum”), entered into a Business Combination Agreement (as may be amended, supplemented, or otherwise modified from time to time, the “Business Combination Agreement” and the transactions contemplated thereby, collectively, the “Business Combination”), by and among Plum, Sakuu Corporation, a Delaware corporation (the “Company”), Plum SPAC 1 Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Plum (“Merger Sub I”), and Plum SPAC 2 Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of Plum (“Merger Sub II”).

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Source: SEC EDGAR

accession 0001193125-23-060629

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