Innovative International Acquisition Down 27%, Enters Non-Redemption Pact With Meteora
December 28 2023 - 4:25PM
Dow Jones News
By Josh Beckerman
Shares of blank-check company Innovative International
Acquisition were recently down 27% to $8.40 after it reported a
non-redemption agreement with Meteora Capital as well as an
underwriting fee revision and an agreement for the sale of a
convertible note.
Three Meteora funds agreed to reverse the redemption of a total
of 150,000 Class A shares.
On Dec. 21, Innovative International Acquisition said
shareholders approved its combination with India-based car-sharing
platform Zoomcar and said stockholders holding 98.7% of all
outstanding public shares validly elected to redeem their public
shares.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 28, 2023 16:10 ET (21:10 GMT)
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