Latest SPAC Liquidations: Cascadia Acquisition Corp.
Cascadia Acquisition Corp. (CCAI) to Liquidate on August 31
On August 18, Cascadia Acquisition Corp.(NASDAQ:CCAI), received a written notice from the Nasdaq notifying the company that it was not in compliance with its listing rules as it had failed to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.
The company has until October 2 to provide Nasdaq with a specific plan to regain compliance with the foregoing listing requirement.
However, the company plans to liquidate, and its securities will not continue to be listed on Nasdaq subsequent to such liquidation. Net of taxes and dissolution expenses, Cascadia currently expects the per-share redemption price for the public shares will be approximately $12.34.
As of the close of business on August 31, the shares will be deemed cancelled.
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