Will you seek any further extensions to liquidate the trust account?
Other than the extension until the Extended Date as described in this proxy statement, the Company does not currently anticipate seeking any further extension
to consummate its initial business combination, although it may determine to do so in the future.
What happens if the Extension Amendment is not
approved?
If the Extension Amendment is not approved and the Company has not consummated an initial business combination by June 11, 2022,
the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, and subject to having lawfully available funds therefor, redeem 100% of
the outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including any interest earned on the trust account deposits (which
interest shall be net of taxes payable and after setting aside up to $100,000 to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders rights as
stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our Board, in accordance with applicable law, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.
The initial stockholders have agreed to waive their redemption rights with respect to their founder shares and public shares in connection with a stockholder
vote to approve an amendment to the charter. There will be no distribution from the trust account with respect to our warrants, which will expire worthless in the event we wind up.
If the Extension Amendment proposal is approved, what happens next?
If the Extension Amendment proposal is approved, the Company will continue to attempt to consummate an initial business combination until the Extended Date,
either with the Target or with another company.
If the Extension Amendment proposal is approved, the Company will file an amendment to the charter with
the Secretary of State of the State of Delaware in the form of Annex A hereto. The Company will remain a reporting company under the Exchange Act, and its units, Class A common stock, and public warrants will remain
publicly traded.
If the Extension Amendment proposal is approved, the removal of the Withdrawal Amount from the trust account will reduce the amount
remaining in the trust account and increase the percentage interest of the Companys common stock held by our initial stockholders through the founder shares.
If I do not redeem my shares now, would I still be able to vote on the initial business combination and exercise my redemption rights with respect to
the initial business combination?
Yes. If you do not redeem your shares in connection with the Extension Amendment, then, assuming you are a
stockholder as of the record date for voting on a business combination, you will be able to vote on the business combination when it is submitted to stockholders. You will also retain your right to redeem your public shares upon consummation of a
business combination, subject to any limitations set forth in the charter, as amended.
When and where is the special meeting?
The special meeting will be held at [●] [a.m. / p.m.] Eastern Time, on [●], 2022, in virtual format. The Companys stockholders may
attend, vote and examine the list of stockholders entitled to vote at the special meeting by visiting http://www.cstproxy.com/altitudeac/2022 and entering the control number found on their proxy card, voting instruction form or notice included in
their proxy materials. You may also attend the meeting telephonically by dialing 1-800-450-7155 (toll-free within the United
States and Canada) or +1 857-999-9155
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