Examples of SPAC Class A Share in a sentence
At least two Business Days prior to the Closing, the Company and SPAC shall direct the Exchange Agent to, at the First Effective Time, exchange each such SPAC Class A Share for the Merger Consideration pursuant to the Exchange Agent Agreement and perform the Exchange Agent’s other obligations thereunder.
Vision Deal completed the SPAC IPO comprising 100,100,000 SPAC Class A Shares at an offer price of HK$10.00 per SPAC Class A Share and 50,050,000 SPAC Listed Warrants on June 10, 2022.
Should the interest income be depleted by the time SPAC Class A Shareholders submit redemption requests, such Redeeming SPAC Shareholders may not be able to receive more than HK$10.00 but only the Redemption Price of HK$10.00 per SPAC Class A Share, which is the original amount of their investment.
On October 23, 2023, prior to effecting any redemptions in connection with the extension of SPAC’s deadline to consummate its initial Business Combination, SPAC caused each SPAC Class B Share that was held by Sponsor as of such date to be converted into one SPAC Class A Share (the “Sponsor SPAC Share Conversion”).
At least one day prior to the Closing Date, SPAC shall redeem each SPAC Class A Share from the holders of SPAC Class A Shares who shall have elected to redeem their SPAC Class A Shares in connection with the Transactions pursuant to the Organizational Documents of SPAC (the “SPAC Shareholder Redemption”).
The amount in the Escrow Account is initially anticipated to be HK$1,001,000,000, representing the issuance of 100,100,000 SPAC Class A Shares at a price of HK$10.00 per SPAC Class A Share.
From and after the First Effective Time, until surrendered or transferred, as applicable, in accordance with this Section 3.03, each SPAC Class A Share shall solely represent the right to receive the Merger Consideration to which such SPAC Class A Share is entitled to receive pursuant to this Agreement.
Each SPAC Warrant is exercisable for one SPAC Class A Share at an exercise price of $11.50, subject to the terms of such SPAC Warrant and the SPAC Warrant Agreement.
Following the SPAC Class B Conversion, each SPAC Class B Share shall no longer be outstanding and shall automatically be canceled and shall cease to exist, and each former holder of SPAC Class B Shares shall thereafter cease to have any rights with respect to the SPAC Class B Shares; provided, however, no fraction of a SPAC Class A Share will be issued by virtue of the SPAC Class B Conversion.
Each SPAC Public Unit outstanding immediately prior to the Second Merger Effective Time shall be automatically detached pursuant to the terms of this Agreement and the holder thereof shall be deemed to hold one SPAC Class A Share and one-half of a SPAC Warrant in accordance with the terms of the applicable SPAC Public Unit, which underlying SPAC Securities shall be converted in accordance with the applicable terms of Section 3.6(b) and (c) below.