WWAC signs $3M PIPE, amends merger terms with AARK, reduces lock-up to 80%

Aeries Technology, Inc.

PIPE investor to buy 620K Class A shares for $3,000,800 ($4.84/share); closes with the business combination.
Third Amendment to merger agreement: 3M Class A shares to Innovo at close; up to 20% exchange pre-April 2024.
Transfer restrictions on Founder Shares and Transferred Shares reduced to 80% after closing.
Equity Incentive Plan pool set at 9,031,027 shares, auto-increases to 10% of fully diluted equity annually.
Annual Meeting to vote on business combination scheduled Nov 2, 2023; S-4 effective Oct 17.

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 a certain investor (the “PIPE Investor”) valued at an aggregate purchase price of $3,000,800 (effective 2023-10-28).

Action: entry
Agreement: equity purchase
Counterparty: a certain investor (the “PIPE Investor”)
Value: an aggregate purchase price of $3,000,800
Effective: 2023-10-28

Exact text from the filing

On October 28, 2023, in connection with the Business Combination, 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 620,000 newly issued Class A ordinary shares for an aggregate purchase price of $3,000,800

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

Aeries Technology, Inc. amended Amendment No. 3 to the Business Combination Agreement with WWAC, Amalgamation Sub and AARK (effective 2023-10-29).

Action: amendment
Agreement: merger
Counterparty: WWAC, Amalgamation Sub and AARK
Effective: 2023-10-29

Exact text from the filing

On October 29, 2023, WWAC, Amalgamation Sub and AARK entered into Amendment No. 3 to the Business Combination Agreement (the “ Third Amendment ”)

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Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-265625

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