SPACInsider Logo
H.I.G. Acquisition Corp. (HIGA) to Liquidate Trust
by Marlena Haddad on 2022-10-14 at 5:31pm

H.I.G. Acquisition Corp. (NYSE: HIGA) announced this afternoon that its board of directors has decided to redeem all of its outstanding shares.

The SPAC, which had a transaction deadline of October 23, was unable to complete a business combination and will now liquidate its trust, effective as of October 24. H.I.G. anticipates that the last day of trading in the company’s Class A shares will be October 21.

Management did not provide details as to why they are liquidating, but ongoing volatility within the market continues to create a challenging environment for SPACs. H.I.G. marks the 39th SPAC to announce a liquidation this year, 31 of which have already completed their liquidations to-date.

The SPAC originally announced the pricing of its $325 million IPO in October 2020 and intended to combine with a target that has a defensible core business with unrealized strategic upside that could generate compelling risk-adjusted returns. H.I.G. was led by CEO and Director Brian Schwartz, President and Director Rob Wolfson, CFO Timur Akazhanov, and VP and General Counsel Richard Siegel.

 

 

Recent Posts
by Marlena Haddad on 2022-12-02 at 11:38am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot  Embark Director Elaine Chao, Others Sued Over SPAC...

by Nicholas Alan Clayton on 2022-12-02 at 7:51am

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...

by Marlena Haddad on 2022-12-01 at 5:55pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: Atlas Crest Investment II and One Equity Partners Open Water I Atlas Crest Investment Corp. II to Liquidate Trust Atlas Crest II’s (NYSE:ACII) board and shareholders have agreed to establish today, December 1, 2022,...

by Marlena Haddad on 2022-12-01 at 5:45pm

Altimeter Growth Corp. 2 (NYSE: AGCB) announced this afternoon that it has decided to liquidate its trust due to its inability to complete a business combination. As part of the liquidation, the company now plans on redeeming all of the outstanding shares of Class A common stock that were included in its IPO at a per-share redemption price...

by Marlena Haddad on 2022-12-01 at 5:34pm

DTRT Health Acquisition Corp. (NASDAQ:DTRT) announced this afternoon that it convened and then adjourned today’s special meeting, without conducting any other business. The SPAC disclosed that it has adjourned the meeting in order to provide additional time to effectuate the extension timeline for its proposed merger with Consumer Direct. As of now, DTRT Health has...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved