SPAC Units. Immediately prior to the Effective Time, the SPAC Class A Shares and the SPAC Public Warrants comprising each issued and outstanding SPAC Unit immediately prior to the Effective Time shall be automatically separated (the “Unit Separation”) and the holder thereof shall be deemed to hold one (1) SPAC Class A Share and one-half of one (0.5) SPAC Public Warrant, provided that no fractional SPAC Public Warrants will be issued in connection with the Unit Separation such that if a holder of SPAC Units would be entitled to receive a fractional SPAC Public Warrant upon the Unit Separation, the number of SPAC Public Warrants to be issued to such holder upon the Unit Separation shall be rounded down to the nearest whole number of SPAC Public Warrants. The SPAC Class A Shares and SPAC Public Warrants held following the Unit Separation shall be converted in accordance with the applicable terms of this Section 2.07.
Appears in 1 contract
Sources: Merger Agreement (10X Capital Venture Acquisition Corp)
SPAC Units. Immediately prior to the Effective Time, the Each SPAC Class A Shares and the SPAC Public Warrants comprising each Unit issued and outstanding SPAC Unit immediately prior to the SPAC Merger Effective Time shall be automatically separated (the “Unit Separation”) detached and the holder thereof shall be deemed to hold one (1) share of SPAC Class A Share Common Stock and one-half third of one (0.5) a SPAC Public WarrantWarrant in accordance with the terms of the applicable SPAC Unit (the “Unit Separation”), provided that no fractional SPAC Public Warrants will be issued in connection with the Unit Separation such that if a holder of SPAC Units would be entitled to receive a fractional SPAC Public Warrant upon the Unit Separation, the number of SPAC Public Warrants to be issued to such holder upon the Unit Separation shall be rounded down to the nearest whole number of SPAC Public Warrants. The underlying SPAC Class A Shares and SPAC Public Warrants Securities held or deemed to be held following the Unit Separation shall be converted in accordance with the applicable terms of this Section 2.072.5(a).
Appears in 1 contract
SPAC Units. Immediately prior to the SPAC Merger Effective Time, the each SPAC Class A Shares and the SPAC Public Warrants comprising each Unit issued and outstanding SPAC Unit immediately prior to the SPAC Merger Effective Time shall be automatically separated (the “Unit Separation”) detached and the holder thereof shall be deemed to hold one (1) SPAC Class A Ordinary Share and one-half (1/2) of one (0.5) SPAC Public Warrant, Warrant in accordance with the terms of the applicable SPAC Unit (the “Unit Separation”); provided that no fractional SPAC Public Warrants will be issued in connection with the Unit Separation such that if a holder of SPAC Units would be entitled to receive a fractional SPAC Public Warrant upon the Unit Separation, the number of SPAC Public Warrants to be issued to such holder upon the Unit Separation shall be rounded down to the nearest whole number of SPAC Public Warrants. The underlying SPAC Class A Ordinary Shares and SPAC Public Warrants Warrant held or deemed to be held following the Unit Separation shall be converted in accordance with the applicable terms of this Section 2.072.8.
Appears in 1 contract
SPAC Units. Immediately prior to the Effective Time, the each SPAC Class A Shares and the SPAC Public Warrants comprising each Unit issued and outstanding SPAC Unit immediately prior to the Effective Time shall be automatically separated (the “Unit Separation”) detached and the holder thereof shall be deemed to hold one (1) SPAC Class A Ordinary Share and one-half third of one (0.5) a SPAC Public WarrantWarrant in accordance with the terms of the applicable SPAC Unit (the “Unit Separation”), provided that no fractional SPAC Public Warrants will be issued in connection with the Unit Separation such that if a holder of SPAC Units would be entitled to receive a fractional SPAC Public Warrant upon the Unit Separation, the number of SPAC Public Warrants to be issued to such holder upon the Unit Separation shall be rounded down to the nearest whole number of SPAC Public Warrants. The underlying SPAC Class A Shares and SPAC Public Warrants Securities held or deemed to be held following the Unit Separation shall be converted in accordance with the applicable terms of this Section 2.072.6(b).
Appears in 1 contract
Sources: Business Combination Agreement (Crown PropTech Acquisitions)
SPAC Units. Immediately prior to the SPAC Merger Effective Time, the each SPAC Class A Shares and the SPAC Public Warrants comprising each Unit issued and outstanding SPAC Unit immediately prior to the SPAC Merger Effective Time shall be automatically separated (the “Unit Separation”) detached and the holder thereof shall be deemed to hold one (1) SPAC Class A Share and one-half of one (0.5) SPAC Public Warrant, Warrant in accordance with the terms of the applicable SPAC Unit (the “Unit Separation”); provided that no fractional SPAC Public Warrants will be issued in connection with the Unit Separation such that if a holder of SPAC Units would be entitled to receive a fractional SPAC Public Warrant upon the Unit Separation, the number of SPAC Public Warrants to be issued to such holder upon the Unit Separation shall be rounded down up to the nearest whole number of SPAC Public Warrants. The underlying SPAC Class A Shares and SPAC Public Warrants held or deemed to be held following the Unit Separation shall be converted in accordance with the applicable terms of this Section 2.072.9.
Appears in 1 contract
Sources: Business Combination Agreement (Armada Acquisition Corp. II)