Chenghe Acquisition Co. Class A (CHEA) has released an update.
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On February 1, 2024, Chenghe and the TCO parties made two key agreements: firstly, the Sponsor is released from executing the Lock-Up Agreement at the Closing, and secondly, they waived the requirement that the Company Acquisition Percentage be at least 90.1% for the Closing, as per the Business Combination Agreement terms. Both parties have mutually agreed to waive their rights and release each other from these specific obligations.
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For a comprehensive understanding of the announcement, you can read the full document here.
