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The latest announcement is out from Thunder Power Holdings Inc Class A (AIEV).
On June 21, 2024, Feutune Light Acquisition Corporation, soon to be known as Thunder Power Holdings, Inc., and Continental Stock Transfer & Trust Company updated their warrant agreement, ensuring terms remained largely unchanged except for the renaming of stock class. Additionally, an escrow agreement was established, detailing the handling of 20 million common shares for future disbursement based on performance triggers. Concurrently, the company forged non-disclosure, non-competition, and non-solicitation agreements with specific shareholders to protect its business interests. Furthermore, a lock-up agreement was entered into with various stakeholders, placing restrictions on the sale of shares post-merger, with varying lock-up periods depending on the share category. The company also finalized indemnification agreements with its directors, reinforcing their protection against liabilities, and converted outstanding working capital loans into equity, simultaneously releasing all associated claims. These strategic financial and legal maneuvers align with the completion of a business combination, positioning the company for future growth.
Learn more about AIEV stock on TipRanks’ Stock Analysis page.
