Ex-CEO of Matterport Wins Challenge to Provide SPAC Stock Locks


""SPAC Stock"" – Google News

The former Matterport Inc. CEO is free to sell his shares in the 3D technology maker, which went public in July through a blank check merger, a Delaware judge ruled Monday, dismissing the company’s attempt to draft articles of incorporation Blocking shares after the deal to enforce him.

Vice Chancellor Lori W. Will ruled in favor of William J. Brown for Chancery Court in Delaware in a brief decision. Because Brown did not receive any interest in the combined company until he issued letters of transmission months after the transaction, those interests were not covered by the articles of incorporation, the judge said.

“It is not necessary to define the exact period” covers …

Source Link

Leave a Reply