Giri Devanur Discloses Investment at BHAV Acquisition Corp with 22.83% Stake
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Giri Devanur, through BHAV Partners LLC, disclosed a 22.83% stake in BHAV Acquisition Corp, following adjustments and a private placement. This stake includes founder shares and private placement units convertible into Class A shares, granting Devanur significant influence over the SPAC's deal process. Devanur and BHAV Partners agreed to vote in favor of the Business Combination and waived redemption rights. Lock-up agreements restrict the sale of founder shares for six months post-merger. BHAV Partners LLC aims to sponsor and complete a merger, with Devanur also serving as CEO of BHAV Acquisition Corp.
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