The Latest Non-Redemption Agreements: August 23, 2023

Latest Non-Redemption Agreements: Northern Star Investment Corp. IV, Northern Star Investment Corp. III, and Concord II

Northern Star Investment Corp. IV (NSTD) Adds Non-Redemption Agreement

On August 22, and August 23, Northern Star IV’s  (NYSE:NSTD) sponsor, entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,400,000 shares.

In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to such investors an aggregate of 280,000 shares of the company held by the sponsor immediately following consummation of an initial business combination if they continue to hold such Non-Redeemed Shares.

The Non-Redemption Agreements are not expected to increase the likelihood that the extension is approved by stockholders but will increase the amount of funds that remain in the trust account following the meeting.

Northern Star Investment Corp. III (NSTC) Adds Non-Redemption Agreement

On August 22, and August 23, Northern Star III Sponsor, the sponsor of Northern Star Investment Corp. III (NYSE:NSTC) entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,492,000 shares.

In exchange for the foregoing commitment not to redeem such shares, the sponsor has agreed to transfer to such investors an aggregate of 298,400 shares of the company immediately following the consummation of an initial business combination if they continue to hold such Non-Redeemed Shares.

Concord Acquisition Corp II (CNDA) Adds Non-Redemption Agreement

On August 23, Concord Acquisition Corp II (NYSE:CNDA) and Concord Sponsor Group II LLC entered into one or more agreements with one or more third parties in exchange for them agreeing not to redeem shares of Class A common stock.

The non-redemption agreements provide for, upon closing of an initial business combination, the allocation to each such investor of a number of shares of Class A Common Stock as set forth in the agreement and the sponsor’s surrender and forfeiture to the company for no consideration of a number of shares of Class B common stock equal to the number of Promote Shares, in exchange for such investor and/or investors agreeing to hold and not redeem certain public shares in connection with the meeting.

The agreements shall terminate on the earlier of the failure of the stockholders to approve the extension, the company’s determination not to proceed with the extension,  the fulfillment of all obligations of parties to the agreements, the liquidation or dissolution of the company, the mutual written agreement of the parties or if the applicable investor exercises its redemption rights with respect to any Investor Shares in connection with the meeting and such Investor Shares are actually redeemed.