As a co-founder, you will be able to sell your share in the open market after the lock-up period. The lock-up period is the span of time after an IPO in which certain shareholders are restricted from selling shares. The lock-up period for a SPAC IPO is typically longer than that for a traditional IPO. However, the typical lock-up period for target shareholders is 180 days from closing.
Currently, we are not seeking investors. The 99 Acquisition Group is seeking co-founders to create a SPAC to go public upon completing the crowdfunding campaign.
After the crowdfunding round has closed and the company has been formed; we will promptly submit IPO documents to the SEC.
The 99 Acquisition Group will be a C Corporation.
All of those that have contributed to the 99 Acquisition Group will receive a FULL refund if the SPAC is not taken public.
As a co-founder, you will receive a US Tax form K-1 to be filed based on profits and losses.
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