Pegasus Digital Mobility Acquisition Corp. Announces Entry into Several Non-Redemption and Investment Agreements and the Addition of Two Independent Board Members to the Schmid Group N.V. Board of Directors
11 Abril 2024 - 4:18PM
Business Wire
Pegasus Digital Mobility Acquisition Corp. (the “Company”),
Pegasus Digital Mobility Sponsor LLC (the “Sponsor”), and Pegasus
TopCo B.V. to be renamed Schmid Group N.V. ("TopCo") have entered
into several non-redemption and investment agreements in connection
with the shareholders meeting called by the Company to approve the
business combination between the Company, TopCo and Gebr. Schmid
GmbH scheduled for April 22, 2024.
The total amount of currently committed capital in these
non-redemption and investment agreements is approximately USD 20
million. The currently committed capital includes investments from
several institutional investors as well as up to USD 8 million from
the Sponsor.
The Company, the Sponsor and TopCo expect to enter into
additional non-redemption and investment agreements prior to the
Company's shareholders meeting. The closing of the initial business
combination, which is scheduled for April 25, 2024 (at the
earliest), remains subject to the fulfillment of all closing
conditions set out in the business combination agreement, as
amended.
In addition, the Company and TopCo hereby announce that Boo-Keun
Yoon has agreed to join TopCo's board of directors as an
independent director. Boo-Keun Yoon, former Vice Chairman and CEO
of Samsung Electronics, spent nearly four decades progressing
through a series of leadership roles at Samsung – including Vice
Chairman of Korea Enterprises. His extensive knowledge of the
Electronics sector, strategic alliances with Korea’s Chamber of
Commerce and his extensive network across the industry will serve
TopCo well in this new appointment. The Company, TopCo and the
Schmid Group are in discussions with two further independent
directors who will join the TopCo board either at the closing of
the business combination or thereafter.
Prof. Dr. Dr. h.c. Sir Ralf Speth, CEO of Pegasus and the future
chairman of the Schmid Group N.V.'s board, comments: "The addition
of a high-profile board member like Boo-Keun Yoon is a key step for
the Schmid Group as the business combination nears with Pegasus. I
am looking forward to working with him on the board following a
successful closing in April."
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements." All statements other than statements
of historical fact included in this press release are
forward-looking statements. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the "Risk Factors" section of
the Company’s registration statement and final prospectus for the
offering filed with the SEC. Copies are available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
About Pegasus Digital Mobility Acquisition Corp.
The Company is a blank check company incorporated as a Cayman
Islands exempted entity. The Company was founded by StratCap, an
investment management organization focused on digital economy
investments. The Company is a special purpose acquisition company
formed for the purpose of effecting a business combination with one
or more businesses.
About The SCHMID Group:
The SCHMID Group is a world-leading global solutions provider
for the high-tech electronic, photovoltaics, glass, and energy
systems industries, with its parent company Gebr. SCHMID GmbH is
based in Freudenstadt, Germany. Founded in 1864, today it employs
more than 800 staff members worldwide, and has technology centers
and manufacturing sites in multiple locations including Germany and
China, in addition to several sales and service locations globally.
The Group focuses on developing customized equipment and process
solutions for multiple industries including electronics,
renewables, and energy storage. Our system and process solutions
for the manufacture of substrates, printed circuit boards and other
electrical components ensure the highest technology levels, high
yields with low production costs, maximized efficiency, quality,
and sustainability in green production processes. Learn more at
www.schmid-group.com
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