BFAC enters non-redemption agreements to extend combination deadline to June 2025

Battery Future Acquisition Corp.

Non-redemption agreements with unaffiliated shareholders cover 450,000 Class A shares to remain in trust.
Insider Camel Bay LLC will transfer 112,500 Founder Shares for first 9 months, plus 11,250 per month thereafter.
Camel Bay voluntarily converted 2,000,000 Class B shares; now 7,170,599 Class A and 6,625,000 Class B shares outstanding.
Extension period proposed from June 17, 2024 to June 17, 2025, subject to shareholder approval at extraordinary general meeting.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Battery Future Acquisition Corp. entered into Non-Redemption Agreement with Camel Bay LLC, and unaffiliated third-party shareholders valued at Transfer of 112,500 Founder Shares for first 9 months, plus 11,250 per additional month if needed (effective 2024-05-14).

Action: entry
Counterparty: Camel Bay LLC, and unaffiliated third-party shareholders
Value: Transfer of 112,500 Founder Shares for first 9 months, plus 11,250 per additional month if needed
Effective: 2024-05-14

Exact text from the filing

On May 14, and May 16, 2024, the Company and Camel Bay LLC, a significant shareholder of the Company (the “Insider”) entered into non-redemption agreements (“Non-Redemption Agreements”) with several unaffiliated third-party shareholders of the Company in exchange for such shareholders agreeing to not redeem an aggregate of 450,000 Class A ordinary shares (“Non-Redeemed Shares”) at the Meeting.

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290 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001929980-24-000199

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