Lux Health Tech Acquisition Corp. (NASDAQ:LUXA) announced this afternoon that it will not consummate a business combination and will instead dissolve and liquidate its trust, effective as of the close of business on October 29.
Lux Health Tech’s liquidation comes just a month after it had signed a non-binding letter of intent (LOI) to combine with an unnamed leading life sciences company. Little else was disclosed in that press release regarding the transaction, but the healthcare-focused SPAC expected to announce further information once the agreement was executed, which was expected to occur in the second half of 2022.
Following the close of business, public shares of LUXA will be deemed cancelled and will represent only the right to receive the redemption amount of $10.04. The SPAC raised $300 million in its October 2020 IPO and originally aimed to combine with a healthcare technology target with an experienced management team of serial entrepreneurs and acclaimed scientists.
As a result of the liquidation, Lux Health Tech has cancelled its special meeting for shareholders on October 13. The management team did not comment on the difficulties of its target search, but a handful of SPACs have recently noted that a challenging environment of high redemptions as well as a potential excise tax on redemptions have caused teams to liquidate.
Lux Health Tech is now the 33rd SPAC to announce its intention to liquidate in 2022.
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...
At the SPAC of Dawn The markets appear to poised to continue a rosy week with futures in the green in anticipation of PCE inflation readings. Space is one of the sectors feeling the most love recently and launch services firm Rocket Lab (NASDAQ:RKLB) is keeping up the momentum, scheduling two launches within 48 hours...
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...