By Josh Beckerman
Shares of blank-check company Innovative International Acquisition were recently down 27% to $8.40 after it reported a non-redemption agreement with Meteora Capital as well as an underwriting fee revision and an agreement for the sale of a convertible note.
Three Meteora funds agreed to reverse the redemption of a total of 150,000 Class A shares.
On Dec. 21, Innovative International Acquisition said shareholders approved its combination with India-based car-sharing platform Zoomcar and said stockholders holding 98.7% of all outstanding public shares validly elected to redeem their public shares.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
12-28-23 1610ET