Major owner of Schultze Special Purpose Acquisition Corp. just disposed of 3,190,000 shares

George J Schultze, a major owner of Schultze Special Purpose Acquisition Corp. and Chairman of Schultze Special Purpose Acquisition Corp. and a director of the company, recently disposed of 3,190,000 shares of the company. The disposals took place at $0.00 per share, on December 18, 2020. Schultze no longer owns any shares of the company. Schultze operates out of Rye Brook, NY. Some additional info was provided as follows:


Disposed of in exchange for common shares ("Common Shares") of Clever Leaves Holdings Inc. ("Holdco") in connection with the consummation of the business combination (the "Business Combination") of the Issuer and Clever Leaves International Inc. ("Clever Leaves"), pursuant to that certain Amended and Restated Business Combination Agreement, date d as of November 9, 2020, by and among the Issuer, Holdco, Novel Merger Sub Inc. and Clever Leaves.
The securities are held directly by Schultze Special Purpose Acquisition Sponsor, LLC (the "Sponsor") and indirectly by George J. Schultze, who controls both Schultze Asset Management, LP, the manager of the Sponsor, and Schultze Master Fund, Ltd, the majority owner of the Sponsor. Mr. Schultze disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
Disposed of in exchange for warrants to purchase Common Shares at an exercise price of $11.50 per share, in connection with the consummation of the Business Combination.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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