How will the $0.05 per share extension payment affect the SPAC’s capital structure and potential redemption rates?

Impact on capital structure

The $0.05‑per‑share extension fee is a tiny infusion of cash into the SPAC’s trust pool – roughly $55,800 total for AIMTF’s ~1.12 M Class A shares. Because the trust account must hold at least the “$10.00 per share” redemption price plus any accrued interest, this payment has virtually no effect on the per‑share unit value (it moves the balance from about $10.00 to $10.05). Consequently, the equity side of the capital structure remains unchanged; the SPAC still carries the same amount of capital it will need to fund a business combination, and the sponsor’s $10 million “working capital” commitment is unaffected.

Redemption dynamics

Redemptions in a SPAC are driven by the comparison between the trust‑value and the market price of the ticker, as well as the perceived likelihood of a successful business combination. Adding $0.05 per share does not materially raise the redemption floor, so shareholders’ incentive to redeem for a higher cash payout is untouched. However, the very act of filing an extension (and the associated deposit) signals to the market that the sponsor still needs extra time to line up a target, which can temper redemption pressure for a short window. In practice, most redemptions occur when the share price trades well below the $10.00 floor; a modest cash top‑up is unlikely to shift that calculus.

Trading implications

Given the negligible cash addition, we can expect only marginal price support from the $0.05 payment. The key driver for short‑term trading will be whether the market views the September 28 deadline as sufficient to deliver a credible target. If investors believe the sponsor is still on track, redemption rates should stay low and the stock may hold near its $10‑$10.50 trust range. If doubts linger, redemptions could rise sharply as the deadline approaches, pulling the share price toward the floor. Positionally, traders should monitor the bid‑ask spread and any abnormal volume spikes on the days leading up to the extension deadline as early warnings of redemption activity. A tight spread and stable volume suggests limited redemptions; widening spreads and upward pressure on volume could be an entry cue for a short‑position or a protective put.