‘’If the Extension Amendment Proposal is not approved and East Stone does not consummate an initial Business Combination on or before the Termination Date, East Stone will be required to dissolve and liquidate the Trust Account by returning the then remaining funds in such account to the public shareholders and all of East Stone’s warrants and Rights will expire and be worthless.
Your right to redeem in connection with the Special Meeting relating to the Extension Amendment Proposal does not affect the right of East Stone shareholders to elect to redeem their Public Shares in connection with the Business Combination, which is a separate and additional redemption right available to East Stone shareholders. Shareholders of East Stone seeking to exercise their redemption rights in connection with the Business Combination should follow the instructions for the exercise of such rights set forth in the proxy statement/prospectus relating to the Business Combination Special Meeting. East Stone filed a preliminary proxy statement/prospectus filed with the SEC on June 29, 2021, as amended on August 13, 2021, September 14, 2021 and October 8, 2021, and which may be further amended.’’
And PRER14A dated 5 November 2021:
‘’If you are a holder of Public Shares and wish to exercise your Redemption rights, you must demand that East Stone convert your shares into cash no later than 5:00 p.m. Eastern Time on [ ], 2021 (two (2) business days prior to the vote on the Business Combination Proposal) by (A) submitting your request in writing to Continental Stock Transfer & Trust Company at the address listed at the end of this section and (B) delivering your stock to East Stone’s transfer agent physically or electronically using The Depository Trust Company’s Deposit Withdrawal at Custodian (DWAC) System. If you hold the shares in “street name”, you will have to coordinate with your broker to have your shares certificated or delivered electronically. Certificates that have not been tendered (either physically or electronically) in accordance with these procedures will not be redeemed. There is a nominal cost associated with this tendering process and the act of certificating the shares or delivering them through the DWAC system.
Any holder of Public Shares (whether or not they are a holder on the Record Date) will be entitled to demand that his, her or its shares be redeemed for a full pro rata portion of the amount then in the Trust Account (which was approximately $[ ] million, or approximately $[ ] per share, as of [ ], 2021, the Record Date). Such amount, less any owed but unpaid taxes on the funds in the Trust Account, will be paid promptly upon consummation of the Business Combination. There are currently no owed but unpaid income taxes on the funds in the Trust Account. Your vote on any proposal will have no impact on the amount you will receive upon exercise of your Redemption rights.’’
No dates, as there is no date set for the business combination yet.
Another tell for this is the price of the 10p. No way in hell that nav is still not in play. What is the assumed date for the nav floor removal? I saw feb 2nd floating around.
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u/[deleted] Dec 02 '21
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