Tiberius Acquisition Corp. Announces Agreements for Additional Warrant Repurchase by Tiberius and Partial Forfeiture of Common Stock by its Sponsor
TIBERIUS ACQUISITION CORP COMMON (TIBR)
Company Research
Source: GlobeNewswire
NEW ORLEANS, LOUISIANA, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Tiberius Acquisition Corp. (NASDAQ: TIBR) (“Tiberius”) today announced that it has entered into a warrant purchase agreement (the “Warrant Purchase Agreement”) with a holder of Tiberius’ outstanding public warrants pursuant to which Tiberius will repurchase from such holder 3,000,000 of Tiberius’ public warrants at a price of $1.425 per warrant, for an aggregate purchase price of $4,275,000, upon the closing of the proposed business combination (the “IGI Business Combination”) between Tiberius and International General Insurance Holdings Limited, a company organized under the laws of the Dubai International Financial Center (“IGI”). To date, Tiberius has entered into agreements, including the Warrant Purchase Agreement, to repurchase a total of 6,000,000 of its warrants upon the closing of the IGI Business Combination. All repurchased warrants will be immediately retired. Tiberius also announced that its sponsor, Lagniap
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