Worldwide Webb Acquisition Corp. closes $5M PIPE at $4.84/share for Aeries merger

Aeries Technology, Inc.

Signed Subscription Agreement for $5M PIPE ($4.84/share) with one unnamed investor; 1,033,058 Class A ordinary shares to be issued.
PIPE closing conditional on and concurrent with business combination with Aeries Technology (Aark Singapore Pte. Ltd.).
Shares issued in private placement exempt from registration under Section 4(a)(2)/Regulation D.
CEO Daniel Webb calls PIPE a 'major step forward' for the business combination.

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 Subscription Agreement with PIPE Investor valued at $5,000,000 (effective 2023-06-01).

Action: entry
Agreement: equity purchase
Counterparty: PIPE Investor
Value: $5,000,000
Effective: 2023-06-01

Exact text from the filing

On June 1, 2023, in connection with its previously announced proposed business combination (the “Business Combination”) with Aark Singapore Pte. Ltd., a Singapore private company limited by shares, (“AARK”), Worldwide Webb Acquisition Corp., a Cayman Islands exempted company (“WWAC”), entered into a subscription agreement (the “Subscription Agreement”) with a certain investor (the “PIPE Investor”), pursuant to which, among other things, the PIPE Investor has agreed to subscribe for and purchase from WWAC, and WWAC has agreed to issue and sell to the PIPE Investor, an aggregate of 1,033,058 newly issued Class A ordinary shares, par value $0.0001 per share, of WWAC (“Class A ordinary shares”) for an aggregate purchase price of $5,000,000, on the terms and subject to the conditions set forth therein (the “PIPE Financing”).

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Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-160926

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