The Latest Non-Redemption Agreements: July 10, 2023


The Latest Non-Redemption Agreements: July 10, 2023

Latest Non-Redemption Agreements: Alpha Healthcare III 

Alpha Healthcare Acquisition Corp. III (ALPA) Adds Non-Redemption Agreement

On July 9, Alpha Healthcare III (NASDAQ:ALPA) entered into a Non-Redemption Agreement with Meteora Select Trading Opportunities Master, LP pursuant to which the seller agreed not to exercise redemption rights under the charter with respect to an aggregate of 100,000 shares.

Additionally, there is a Forward Purchase Agreement whereby the sellers (Meteora) have the option to buy a certain number of shares of Alpha Common Stock before the business combination closing of up to 9.5%, the “Recycled Shares.” The sellers will buy the remaining shares from the combined company at a price equal to the redemption price set for holders of Alpha Common Stock who want to sell their shares during the merger.

The Forward Purchase Agreement provides that the Sellers will be paid directly an aggregate cash amount (the “Prepayment Amount”) equal to (x) the product of (i) the Number of Shares as set forth in the Pricing Date Notice (as defined in the Forward Purchase Agreements) and (ii) the Initial Price.