other material
confidence high
sentiment neutral
materiality 0.75
Black Hawk Acquisition signs forward purchase, non-redemption, $200M SEPA with Meteora for Vesicor deal
Black Hawk Acquisition Corp
- Forward Purchase Agreement with Meteora covers up to 1,350,000 shares; prepayment equals share count times redemption price.
- Non-Redemption Agreement: Meteora to hold up to 2,124,077 shares; paid final redemption price less $0.75 per share at closing.
- SEPA lets PubCo sell up to $200M of common stock to Meteora over 36 months; commitment fee 0.50% of max.
- Registration Rights Agreement requires resale registration covering ≥10M shares or 300% of convertible note shares by 60 days post-close.
- Convertible promissory notes: 12-month maturity, 0% interest (18% on default), 7% payment premium, conversion at 95% of 5-day VWAP.