Semper Paratus Acquisition Corporation Class A (LGST) has released an update.
Following a significant Business Combination, a newly formed company has established pivotal agreements to lay the foundation for its future operations. Key executives, including the CEO, CFO, and Chief Scientific Officer, entered into an Amended and Restated Registration Rights Agreement, promising to file a shelf registration for reselling certain company shares and warrants. Additionally, a Lock-Up Agreement was signed to restrict the transfer of certain securities for six months post-closing, with specific conditions allowing for an earlier release. Non-Competition and Non-Solicitation Agreements were also put in place, with the CEO agreeing to not compete or solicit company personnel for five years. These strategic moves are aimed at aligning interests, ensuring commitment, and setting the stage for the company’s growth trajectory in the stock market.
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