- SPAC Powered Brands ( NASDAQ: POW ) said Tuesday it will redeem all outstanding class A ordinary shares, effective as of business close on January 12, as it will not close a merger within the time period required.
- The firm will cease all operations as of January 12, except for the purpose of winding up.
- The per-share redemption price will be ~$10.12.
- Powered Brands ( POW ) sponsor waived its redemption rights with respect to outstanding class A ordinary shares held by it and class B ordinary shares.
For further details see:
SPAC Powered Brands to dissolve