Corporate ActionJun 5, 2026, 05:31 PM
East West Ave Acquisition Corp. Sponsors Commit $2.725M in Private Placement
AI Summary
East West Ave Acquisition Corp. detailed its initial capital structure and offering expenses in its S-1 filing. Sponsors East West Ave LLC and NFR Capital Limited committed to purchase 272,500 private units for $2,725,000 at $10.00 per unit. The company also outlined the issuance and transfer of founder shares among sponsors and to directors. Estimated expenses for the offering, excluding underwriting discounts, are projected to be $622,500. The company also detailed its indemnification policies for directors and officers.
Key Highlights
- Sponsors committed to purchase 272,500 private units for $2,725,000.
- Private units are priced at $10.00 each, comprising one common stock share and one-fourth right.
- Sponsor A initially acquired 20,000 founder shares for $5,000, then received 2,855,000 dividend shares for $20,000.
- Sponsor A transferred 560,000 founder shares to Sponsor B for $4,872.
- Sponsor A will transfer 190,000 founder shares to directors post-offering.
- Estimated offering expenses, excluding underwriting, total $622,500.
- Company will indemnify directors and officers to the fullest extent permitted by Nevada law.
Price Impact
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