Aeries Tech resets forward purchase to $0.25, CFO Nair terminated, CEO becomes interim CFO, pay cuts of 29%

Aeries Technology, Inc.

Amended forward purchase agreement sets Reset Price at $0.25/share; maturity extended to 14 months post-Nov 2023 business combination.
CFO Rajeev Nair terminated effective Nov 29, 2024; CEO Sudhir Appukuttan Panikassery appointed interim CFO effective Nov 30.
Maulik Doshi appointed interim principal accounting officer; previously financial controller for Aeries Technology Group since Jan 2020.
Temporary base salary reductions: CEO 29%, Ajay Khare 20%, Unni Nambiar 17%, effective Dec 1, 2024 to Apr 1, 2025.

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