Holders of Public Shares to be paid Trust Fund Distribution and Retain Shares
New York, New York, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Northern Star Investment Corp. II (the "Company") today announced that, because it will not be able to consummate an initial business combination as described in the Company's amended and restated certificate of incorporation ("Charter") by the current January 28, 2024 deadline, it has determined to commence the process of liquidating the trust account established in connection with the Company's initial public offering ("IPO") and distributing funds to holders of the Company's shares of Class A Common Stock sold in the IPO (the "Public Shares"). Additionally, as the Company has not consummated an initial business combination by the January 28, 2024 deadline, the Company expects the NYSE American to take delisting action with regard to the Company's securities.
The Company has further determined to continue its corporate existence following the distribution of funds in the trust account in an effort to acquire a business or entity. The Company's board of directors and management has determined that it would be in the best interest of the Company and the holders of Public Shares to allow such holders to continue to retain their Public Shares following such distribution and have the ...