Mars Acquisition Corp. (MARX) has released an update.
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The Company, alongside its Sponsor, agreed with several unaffiliated third-party investors to not redeem a total of 1,550,000 ordinary shares during the Extension Amendment Proposal. In return, following the initial business combination, these investors will receive 310,000 common stock in the resulting entity, ScanTech AI Systems Inc. This summary of the Non-Redemption Agreements is not exhaustive and further details are available in the full agreement documentation.
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For a comprehensive understanding of the announcement, you can read the full document here.
