The Latest Non-Redemption Agreements: March 6, 2023

Latest Non-Redemption Agreements: Inception Growth, Vector II

Inception Growth Acquisition (IGTA) Inks Non-Redemption Agreement

Inception Growth (NASDAQ:NSTC) entered into a non-redemption agreement with investors securing 400,000 shares that will not be redeemed in connection with the special meeting to extend its transaction deadline by six months from March 13 to September 13.

In exchange for the commitment, the sponsor will transfer 120,000 common shares to the investors immediately following the completion of an initial business combination. Inception Growth would not make a contribution to its trust if this vote is successful, but it may automatically extend its deadline twice in three-month increments in exchange for a $0.10 per share contribution.

Vector Acquisition Corporation II (VAQC) Secures 3.5M Shares in Non-Redemption Agreement

Vector II (NASDAQ:VAQC) signed non-redemption agreements with shareholders covering a total of 3,500,000 shares as it seeks to push its transaction deadline a full year from March 12, 2023 to the same date in 2024.

These shareholders will receive 1,050,000 newly issued Class A shares in return and Vector II’s sponsor has agreed to forfeit the same number of promote shares (9.3%).