The Latest Non-Redemption Agreements: July 11, 2023


The Latest Non-Redemption Agreements: July 11, 2023

Latest Non-Redemption Agreements:  KnightSwan Acquisition Corp.

KnightSwan Acquisition Corp. (KNSW) Adds Non-Redemption Agreement

On July 10, KnightSwan Acquisition Corp. (NYSE:KNSW) and its sponsor entered into a non-redemption agreement with an unaffiliated third party.

Pursuant to the Non-Redemption Agreement, the investor agreed not to redeem an aggregate of 400,000 shares of Class A common stock at the special meeting to approve an extension from July 25, 2023 to July 25, 2024.

In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to the investor an aggregate of 133,200 shares of Class B common stock immediately following consummation of an initial business combination. The Non-Redemption Agreement is not expected to increase the likelihood that the extension proposal is approved by shareholders but will increase the amount of funds that remain in the trust account following the meeting.