An update from Plum Acquisition ( (PLMI) ) is now available.
On September 11, 2024, Plum Acquisition Corp. I and Veea Inc. revised their Business Combination Agreement, setting a new automatic termination date if the deal doesn’t close by September 16, 2024, and included a mutual release of potential claims. The amendment also outlines additional closing conditions, such as deferred liability assumptions, indemnifications, share price equitization, and at least $4.0 million in new financing. Furthermore, adjustments to previously issued promissory notes were made, allowing them to be converted into Class A Common Stock at $5 per share upon business combination completion. Helder Antunes, a seasoned technologist and executive, was elected to Plum’s Board of Directors effective upon the closing of the Business Combination, bringing his extensive experience in innovation and technology.
See more insights into PLMI stock on TipRanks’ Stock Analysis page.
