# Aeries Technology, Inc. (AERT) — spac/extension [announced]
Source: SEC API (secapi.ai) · situation sit_d9bddf5d9c467a386992 · retrieved 2026-08-12T07:00:15.629Z

## Overview
Aeries Technology, Inc. is a management consulting services company incorporated in the Cayman Islands and formerly known as Worldwide Webb Acquisition Corp., which completed a de-SPAC transaction in November 2023.

On August 3, 2026, Aeries Technology, Inc. entered into a Letter Agreement with Sea Otter Trading, LLC to settle a past-due payment liability of $1,141,461 arising from a forward purchase agreement dated November 3, 2023. Under the settlement, the Company will make an initial cash payment of $100,000 on August 5, 2026, followed by monthly amortization payments of $75,000 commencing September 15, 2026, until the liability is paid in full. Interest accrues at 7.5% per annum, calculated and paid monthly. The Company will issue 145,183 Class A ordinary shares at fair market value as collateral, to be delivered within fifteen business days. If the market value of collateral shares falls below the outstanding liability, the Company must issue additional shares to maintain full collateral coverage. Sea Otter may sell the shares only at a minimum price of $8.40 per share, with proceeds applied to reduce the liability; upon receipt of cash payments, Sea Otter must return or cancel shares valued at the amount received within three months of each quarter-end.

## Terms
- Counterparty: Sea Otter Trading, LLC · Deal value: $1.1M · Consideration: mixed · Price/share: $8.4

## Key dates
- Announced 2026-08-07

## Timeline
- 2026-08-07 · 8-K (0001829126-26-008484): 8-K - Aeries Technology, Inc. — *Aeries Technology, Inc. is a management consulting services company incorporated in the Cayman Islands and formerly known as Worldwide Webb Acquisition Corp., which completed a de-SPAC transaction in November 2023.* On August 3, 2026, Aeries Technology, Inc. entered into a Letter Agreement with Sea Otter Trading, LLC to settle a past-due payment liability of $1,141,461 arising from a forward purchase agreement dated November 3, 2023. Under the settlement, the Company will make an initial cash payment of $100,000 on August 5, 2026, followed by monthly amortization payments of $75,000 commencing September 15, 2026, until the liability is paid in full. Interest accrues at 7.5% per annum, calculated and paid monthly. The Company will issue 145,183 Class A ordinary shares at fair market value as collateral, to be delivered within fifteen business days. If the market value of collateral shares falls below the outstanding liability, the Company must issue additional shares to maintain full collateral coverage. Sea Otter may sell the shares only at a minimum price of $8.40 per share, with proceeds applied to reduce the liability; upon receipt of cash payments, Sea Otter must return or cancel shares valued at the amount received within three months of each quarter-end.
  https://www.sec.gov/Archives/edgar/data/1853044/0001829126-26-008484.txt

## Citations
- 0001829126-26-008484 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000182912626008484