Matterport ex-CEO wins challenge for SPAC Stock Lockup Commission

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""SPAC Stock"" – Google News

The former CEO of Matterport Inc. can freely sell his shares in the 3D technology manufacturer, which went public in July through a blank check merger, a judge from Delaware ruled on Monday and rejected the company’s attempt to revise its articles of association He enforced his share lock after the deal.

Vice Chancellor Lori W. Will ruled in a brief ruling on the Delaware Chancery Court in favor of William J. Brown. Since Brown only received shares in the combined company months after the transaction when he issued “letters of broadcast”, those shares were not covered by the articles of association, the judge said.

“It is unnecessary to define the exact period” covered …

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