EVe Mobility Acquisition Corp (NYSE American: EVE), a blank check company, has successfully extended the timeframe to execute its initial business combination. Shareholders voted on Monday to amend the company's charter, granting an extension from June 17, 2024, to December 17, 2024, with the possibility of further monthly extensions until June 17, 2025.
The extraordinary general meeting, held on June 10, 2024, saw approximately 93.1% of the voting power of the company's shares cast their votes. The shareholders' decision allows the company's board to extend the deadline without additional shareholder votes. This move was made to provide EVe Mobility Acquisition Corp with additional time to complete a merger, asset acquisition, or similar business combination.
During the meeting, shareholders also approved the non-redemption of certain Class A ordinary shares. As a result, approximately $57.69 million will be redeemed at $10.99 per share. Following these redemptions, about $9.96 million will remain in the company's trust account. Shareholders have the option to reverse redemption requests within 14 days post-meeting.
In conjunction with the meeting, third-party investors entered into non-redemption agreements, ensuring they would not redeem an aggregate of 96,342 Class A ordinary shares. In return, certain company insiders agreed to transfer up to 94,000 Class B ordinary shares to these investors, should the full extension period be utilized and the initial business combination be completed.
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