NOTE 3 - PUBLIC OFFERING:
| |
|
In
the Initial Public Offering, the Company issued and sold 12,650,000 units at an offering price of $10.00 per unit (the “Units”).
The Sponsor purchased an aggregate of Private Warrants (as defined below) at a price of $ per Private Warrant, approximately
$7,300,000 in the aggregate. |
| |
|
|
| |
|
Each
Unit consists of one Class A ordinary share, $0.0001 par value, and one-half of one warrant, with each whole warrant exercisable
for one Class A ordinary share (each, a “Warrant” and, collectively, the “Warrants”). Each Warrant entitles
the holder thereof to purchase one whole Class A ordinary share at a price of $11.50 per share, subject to adjustment. No fractional
shares will be issued upon exercise of the Warrants and only whole Warrants will trade. Each Warrant will become exercisable 30 days
after the completion of the Company’s initial Business Combination and will expire at 5:00 p.m., New York City time, five years
after the completion of the initial Business Combination or earlier upon redemption (only in the case of the Warrants sold in the
Public Offering, or the “Public Warrants”) or liquidation. |
CACTUS ACQUISITION CORP. 1 LIMITED
NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
| |
|
Once
the Public Warrants become exercisable, the Company may redeem them in whole and not in part at a price of $0.01 per Warrant upon
a minimum of 30 days’ prior written notice of redemption, if and only if the last reported sale price of the Company’s
Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which the Company sends the notice of redemption to the Warrant holders. |
| |
|
|
| |
|
The
Warrants sold in the Private Placement (the “Private Warrants”) are identical
to the Public Warrants except that: (1) they (including the ordinary shares issuable upon
exercise of these warrants) may not, subject to certain limited exceptions, be transferred,
assigned or sold by the sponsor until 30 days after the completion of the initial business
combination; (2) they (including the ordinary shares issuable upon exercise of these warrants)
are not registered but are entitled to registration rights; and (3) prior to being sold in
the open market or transferred into “street name”, they are not redeemable by
the Company.
|
|