WWAC enters non-redemption agreements for 4.935M shares to extend BC deadline to 24 months

Aeries Technology, Inc.

Non-redemption pacts with unaffiliated holders covering 4,935,000 Class A shares; holders forgo redemption at extension vote.
Sponsor will forfeit 987,000 Class B shares at deal closing; company issues equal number of Class A shares to holders.
Extension moves initial business combination deadline from 18 to 24 months post-IPO; vote at extraordinary general meeting.
Company will file Form 8-K disclosing material terms; holder names not publicly disclosed.

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

Aeries Technology, Inc. entered into Non-Redemption Agreement with certain unaffiliated third parties (effective 2023-03-31).

Action: entry
Counterparty: certain unaffiliated third parties
Effective: 2023-03-31

Exact text from the filing

On March 31, 2023, Worldwide Webb Acquisition Corp. (the “Company”) and Worldwide Webb Acquisition Sponsor, LLC (the “Sponsor”), the sponsor of the Company, entered into non-redemption agreements (each, a “Non-Redemption Agreement”) with certain unaffiliated third parties (each, a “Holder,” and collectively, the “Holders”) in exchange for the Holder or Holders agreeing either not to request redemption in connection with the Extension (as defined below) or to reverse any previously submitted redemption demand in connection with the Extension with respect to an aggregate of 4,935,000 Class A ordinary shares

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Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-088808

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