By Josh Beckerman

Shares of blank-check company Innovative International Acquisition were recently down 27% to $8.40 after it reported a non-redemption agreement with Meteora Capital as well as an underwriting fee revision and an agreement for the sale of a convertible note.

Three Meteora funds agreed to reverse the redemption of a total of 150,000 Class A shares.

On Dec. 21, Innovative International Acquisition said shareholders approved its combination with India-based car-sharing platform Zoomcar and said stockholders holding 98.7% of all outstanding public shares validly elected to redeem their public shares.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 28, 2023 16:10 ET (21:10 GMT)

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