Latest SPAC Liquidations: Pine Technology, and Colonnade Acquisition Corp. II
Pine Technology Acquisition Corp. (PTOC) to Liquidate on March 10
On March 9, 2023, the board of directors of Pine Technology Acquisition Corp. (NASDAQ:PTOC) determined that it will not be able to complete a business combination.
Accordingly, the company will dissolve and liquidate, effective as of the close of business on March 10, 2023, and will redeem all of the outstanding shares at a per-share redemption price of approximately $10.17.
As of the close of business on March 10, 2023, the shares will be deemed cancelled and will represent only the right to receive the redemption amount.
READColonnade Acquisition Corp. II (CLAA) Terminates Plastiq Deal, Plans to Liquidate on March 13
Colonnade Acquisition Corp. II (NYSE: CLAA) today announced that it will redeem all of its outstanding Class A ordinary shares, effective as of March 13, 2023.
Prior to any taxes that may be payable and dissolution expenses, the Redemption Amount is estimated to be approximately $10.21.
READ
Terms Tracker for the Week Ending March 31, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings continue to remain quiet, but SPACs did manage to price two more IPOs this week with TMT Acquisition Corp (Nasdaq: TMTCU) and Trailblazer Merger...
Hudson Acquisition I Corp. (NASDAQ:HUDA) announced that it has signed a non-binding letter of intent (LOI) to combine with a pre-clinical-stage biotechnology company. The SPAC did not provide many details on the unnamed target, but disclosed that the biotech company is focused on developing intranasal preventives for major disease-causing respiratory viruses. As a condition to the target...
Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Shares of Digital World jump after Trump’s indictment, and pair of Delaware Chancery court decisions deny motions to dismiss SPAC shareholder’s fiduciary breach claims Trump-Tied SPAC’s Shares Jump After Historic New York Charge The...
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...