---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-034660"
form_type: "8-K"
ticker: null
cik: "0001821075"
company_name: "Appreciate Holdings, Inc."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:16:24.380503+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Appreciate Holdings receives $6M demand from Vellar under forward purchase agreement; company disputes validity

## Summary
- Vellar Opportunity Fund SPV LLC demands $6M cash or 5,144,074 newly issued shares (or 9M penalty shares) under November 2022 forward purchase agreement.
- Trigger event: SFR share VWAP fell below $2.00 for 20 of 30 consecutive trading days after business combination.
- Appreciate Holdings disputes the validity and effect of the notice; no payment has been made.
- Maturity consideration due on April 27, 2023; company contests obligation.

## SEC filing metadata
- accession: 0001213900-23-034660
- form_type: 8-K
- cik: 0001821075
- company_name: Appreciate Holdings, Inc.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821075/000121390023034660/0001213900-23-034660-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821075/000121390023034660/ea177804-8k_appreciate.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-034660
- JSON: https://secwatch.observer/filing/0001213900-23-034660.json
- Plain text: https://secwatch.observer/filing/0001213900-23-034660.txt

## Key facts
- Debt Financings
  Appreciate Holdings, Inc. faced acceleration on debt of $6,000,000 with Vellar Opportunity Fund SPV LLC maturing April 25, 2023.
  - Principal: $6,000,000
  - Counterparty: Vellar Opportunity Fund SPV LLC
  - Maturity: April 25, 2023
  - Event: acceleration
  source text: On April 25, 2023, the Company received a purported notice from Vellar Opportunity Fund SPV LLC that purports to trigger maturity consideration under the previously disclosed Forward Purchase Agreement entered into in November 2022. The amount of the maturity consideration demanded is $6,000,000 if paid in cash.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821075/000121390023034660/0001213900-23-034660-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.