TortoiseEcofin Corp III (TRTL) has released an update.
TortoiseEcofin Acquisition Corp. III has entered into an amended Business Combination Agreement with One Energy Enterprises Inc. and various subsidiaries, setting the stage for significant corporate restructuring and a series of mergers. The agreement details complex transactions that will ultimately see One Energy becoming a wholly-owned subsidiary of a newly formed holding corporation, with various provisions for stock and option conversions, as well as contingent rights based on future trading prices. Additionally, there are earnout provisions that could see additional shares issued if certain price targets are met within specified periods post-closing. This strategic move, contingent on fulfilling multiple conditions, is poised to reshape the participating entities and presents an intriguing development for investors and market watchers.
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