- SPAC Equity Distribution Acquisition ( NYSE: EQD ) said Tuesday it will dissolve and liquidate as it did not find an opportunity for a business combination within the required timeline.
- EQD will redeem all outstanding class A shares issued as part of the units sold in its IPO, effective as of business close on Sept. 19.
- EQD expects the per-share redemption price for the shares to be ~$10.01, net of taxes.
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- The company expect its shares to stop trading as of business close on Sept. 16.
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- As of business close on Sept. 19, EQD's public shares will be deemed cancelled and will represent only the right to receive the redemption amount.
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- After Sept. 19, EQD will cease all operations, except for those required to wind up its business.
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- There will be no redemption rights or liquidating distributions with respect to EQD's warrants, which will expire worthless.
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- EQD's sponsor, directors and management waived their rights to liquidating distributions with respect to founder shares held by them.
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For further details see:
SPAC Equity Distribution Acquisition to dissolve, redeem public shares