SPACInsider Logo
Sanaby Health Acquisition Corp. I (SANB) to Liquidate Trust
by Marlena Haddad on 2022-10-17 at 5:41pm

Sanaby Health Acquisition Corp. I  (NASDAQ: SANB) announced this afternoon that due to its inability to complete a business combination, it intends to dissolve and liquidate its trust, effective as of the close of business on October 19.

The SPAC will now redeem all of its outstanding shares of Class A common stock that were included in the units issued in its IPO at an estimated $10.22 per share.

CEO of Sanaby Health Sandra Shpilberg commented on the liquidation stating that the team met with many companies over the past year, “however, current market dynamics and lingering economic uncertainty” convinced them it would be best to return the capital held in trust back to shareholders. Sanaby Health now marks the 40th SPAC to announce a liquidation this year, 31 of which have already completed their liquidations to-date.

As of the close of business on October 19, the shares will be deemed cancelled and will represent only the right to receive the redemption amount, which is expected to be completed within ten business days following the close.

The SPAC, which had 12 months on its timeline to complete a business combination, announced the pricing of its $150 million IPO in October 2021. Sanaby Health I intended to identify opportunities in the healthcare industry, with a focus on digital health, life science tools and services, and innovative therapeutics.

 

Recent Posts
by Nicholas Alan Clayton on 2022-12-09 at 11:56am

Better World (NASDAQ:BWAC) has entered into a definitive agreement to combine with Heritage Distilling at an enterprise value of $122.2 million. Gig Harbor, Washington-based Heritage produces craft whisky, vodka, rum, gin, and canned cocktails, which it sells primarily through casinos and its owned tasting rooms in the Pacific Northwest. The combined company is expected to...

by Marlena Haddad on 2022-12-09 at 11:44am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Southland awarded $70M contract for Denver International Airport expansion project, and Bakkt reduces 15% of employee base Southland Awarded $70 Million Denver International Airport West Gates Pond Expansion Project Southland Holdings, LLC (“Southland”)...

by Marlena Haddad on 2022-12-09 at 11:09am

Altitude Acquisition Corp. (NASDAQ:ALTU) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with a global medical device manufacturer. The SPAC originally teased this deal on October 4, the same day as its redemption deadline, when it announced it was in negotiations to sign a LOI with the medical device...

by Marlena Haddad on 2022-12-09 at 9:48am

InterPrivate II (NYSE:IPVA) disclosed this morning that its shareholders have approved its business combination with car-sharing marketplace Getaround during a special meeting held on Wednesday, December 7. The combined company raised approximately $228 million in gross proceeds through the deal, including the amounts retained in InterPrivate II’s trust account, the conversion of approximately $37.5 million of...

by Marlena Haddad on 2022-12-09 at 9:35am

10X Capital Venture Acquisition Corp. III (NYSE:VCXB) included in an 8-K this morning that it has signed a non-binding letter of intent (LOI) to combine with Sparks Energy. Sparks is a leader in storm response and energy restoration management with qualified crews for overhead and underground distribution, transmission, substation and row operations. However, the 8-K mainly...

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