secwatch.observer — SEC 8-K summary
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Issuer:     Airship AI Holdings, Inc. (AISP)
CIK:        0001842566
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001213900-23-062651
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BYTE Acquisition enters non-redemption agreements for $7M of shares to support Airship AI merger
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- Sponsor Byte Holdings LP agreed to acquire $6M in public shares, waive redemption rights, and abstain from voting in exchange for $0.033/share/month fee.
- Existing shareholder agreed not to redeem $1M in public shares in connection with the Business Combination.
- The agreements satisfy a $7 million non-redemption condition under the Merger Agreement with Airship AI.
- Non-redemption payments begin July 29, 2023 and terminate at closing, deal termination, or outside date.
- Post-closing, the company agreed not to issue equity below $5/share for 7 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/0001213900-23-062651-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/ea182667-8k425_byteacq.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-062651

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