Redwoods Acquisition Corp.

06/27/2024 | Press release | Distributed by Public on 06/27/2024 15:01

Acquisition/Asset Disposal Form 8 K

Item 1.01 Entry into Material Agreement

The disclosure set forth in the "Introductory Note" above is incorporated into this Item 1.01 by reference.

Related Agreements

Lock-Up Agreements

On the Closing Date, Public ANEW entered into Lock-up Agreements (the "Lock-Up Agreements") with: Joseph Sinkule, Jon McGarity Shalom Hirschman, and Samuel Zentman (the "Holders"), pursuant to which they are contractually restricted from selling or transferring any of (i) their shares of Public ANEW Common Stock held immediately following the Closing (the "Lock-Up Shares"). Such restrictions became applicable commencing from the Closing Date and end the earliest of (i) the six-month anniversary of the Closing Date, and (ii) such date on which Public ANEW completes a liquidation, merger, stock exchange or other similar transaction that results in all of Public ANEW stockholders having the right to exchange their shares of Public ANEW Common Stock for cash, securities or other property (the "Lock-Up Trading Restrictions").

The foregoing summary is subject to and qualified in its entirety by reference to the Form of Lock-Up Agreement, which is filed hereto as Exhibit 10.1 and the terms of which are incorporated by reference herein to this Current Report on Form 8-K.