The Latest Non-Redemption Agreements: September 26, 2023

Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements

Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption.

The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is to hold a special meeting tomorrow to extend its transaction deadline one year to September 30, 2024 without additional contributions to its trust.

Berenson has not yet announced a definitive agreement with a target company but it noted in its last proxy that it is “in serious discussions with a potential business combination target”.