secwatch.observer — SEC 8-K summary
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Issuer:     TortoiseEcofin Acquisition Corp. III (—)
CIK:        0001847112
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001193125-24-137276
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TRTL amends business combination with One Energy; sponsor earnout cut to 500K shares, NTA condition removed
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- Sponsor earnout shares reduced from 1,075,000 to 500,000 Pubco common shares.
- Condition requiring TRTL to have at least $5,000,001 net tangible assets at closing removed.
- Additional sponsor loans of ~$2.4M received via Loan and Transfer Agreements and Subscription Agreement.
- Sponsor and class B holders agree to extended lock-up: two years or $15/share trigger, subject to exceptions.
- Amended sponsor letter and stockholder support agreements executed with Pubco added as party.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847112/000119312524137276/0001193125-24-137276-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847112/000119312524137276/d810720d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-137276

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