Prior to a general meeting to approve any of the following matters, a SPAC must provide its shareholders with the opportunity to elect to redeem all or part of their holdings of SPAC Shares (for an amount per SPAC Share which must be not less than the price at which the SPAC Shares were issued at the SPAC’s initial offering) to be paid out of the monies held in the escrow account referred to in rule 18B.16:
(1) the continuation of the SPAC following a material change referred to in rule 18B.32;
(2) a De-SPAC Transaction referred to in rule 18B.53; or
(3) the extension of any of the deadlines referred to in rule 18B.69 or 18B.70.