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SPAC Vy Global Growth ( NYSE: VYGG ) said Monday it will redeem all outstanding class A shares and dissolve, effective as of business close on Oct. 6 as it will not close a merger within the time required.
VYGG will cease all operations as of Oct. 6, except those required to wind up its business.
The per-share redemption price for the shares will be ~$10.06.
Current balance of VYGG's trust account is ~$578.5M.
There will be no redemption rights or liquidating distributions with respect to VYGG's warrants, which will expire worthless.