WWAC enters forward purchase and non-redemption agreements for up to ~3M shares and 1.24M redemption reversals

Aeries Technology, Inc.

Forward Purchase Agreement allows Seller to buy up to 3,000,000 WWAC Class A shares at trust redemption price.
Prepayment amount from WWAC's trust account paid at close; optional early termination with reset price adjustment.
Non-Redemption Agreement lets Seller reverse redemption of up to 1,239,670 shares, paying $4.84 below redemption price per share.
Break-up fee of $50,000 payable if Counterparty terminates after Recycled Shares are purchased.
Both agreements support the pending business combination with Aeries Technology.

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 Forward Purchase Agreement with Sea Otter Trading, LLC Sandia Investment Management LP and YA II PN, Ltd. valued at Up to 3,000,000 Class A ordinary shares, par value $0.0001 per share (effective 2023-11-03).

Action: entry
Agreement: equity purchase
Counterparty: Sea Otter Trading, LLC Sandia Investment Management LP and YA II PN, Ltd.
Value: Up to 3,000,000 Class A ordinary shares, par value $0.0001 per share
Effective: 2023-11-03

Exact text from the filing

On November 3, 2023, WWAC entered into a forward purchase agreement (the “ Forward Purchase Agreement ”) with Sea Otter Trading, LLC Sandia Investment Management LP and YA II PN, Ltd. (collectively, “ Seller ”) for an OTC Equity Prepaid Forward Transaction.

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Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-269978

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