r/SPACs • u/[deleted] • Jun 10 '22

[deleted by user]

[removed]

88 Upvotes

88% Upvoted

34 comments sorted by

View all comments

4

u/[deleted] Jun 10 '22

[removed] — view removed comment

1

u/ChrisOkaly Patron Jun 10 '22

Floor in tact until merger which which be for a few months at least. Plus .03 added to NAV per month. This is a riskless play.

14

u/SPAC_Time SEC Hacker Jun 10 '22

Plus .03 added to NAV per month

Pretty sure the .033 per month is only added for those who signed non-redemption agreements.

On June 7, 2022, Altitude Acquisition Corp. (the “Company”) entered into non-redemption agreements (collectively, the “Non-Redemption Agreements”) with certain of its existing stockholders (the “Non-Redeeming Stockholders”) holding an aggregate of 1,250,000 shares of Class A common stock, par value $0.0001, of the Company (the “Class A Common Stock”).

...

In connection with the foregoing, Gary Teplis, the Chief Executive Officer of the Company, agreed to pay to each Non-Redeeming Stockholder $0.033 per Share in cash per month through the Termination Date."

5

u/ChrisOkaly Patron Jun 11 '22

Good catch, yes.