Warrior Technologies (NYSE:WARR) announced this afternoon that it will not complete a business combination and will instead redeem all shares.
The SPAC, which announced the pricing of its upsized $240 million IPO in February 2021, will now dissolve and liquidate its trust, effective as of the close of business on September 2. Shareholders shortly thereafter are anticipated to receive approximately $10.01 per share.
As a result of the liquidation, Warrior Technologies has also cancelled its special meeting of shareholders to extend its deadline that was previously scheduled for tomorrow, August 31.
Warrior Technologies initially set out to combine with an environmental services business with strong ESG principles. This marks the 20th SPAC to liquidate this year, but is the first sustainability-focused SPAC to do so in 2022. Warrior was led by Chairman, President, CEO and CFO H.H. “Tripp” Wommack III.
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