The Latest Non-Redemption Agreements: April 5, 2023

Latest Non-Redemption Agreements: Atlantic Coastal Acquisition Corp. II

Atlantic Coastal Acquisition Corp. II (ACAB) Adds Non-Redemption Agreement

In connection with the special meeting of the stockholders of Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) to extend  the company’s completion deadline from April 19, 2023 to October 19, 2023, the SPAC and its sponsor will enter into a non-redemption agreement with one or more unaffiliated third party or parties, pursuant to which such third party or third parties will agree not to redeem Series A common stock of ACAB.

In exchange for the foregoing commitments not to redeem such Series A common stock, the sponsor has agreed to transfer Series B common stock to the third parties immediately following consummation of an initial business combination.