UTA Acquisition Corporation (NASDAQ:UTAA) will not consummate a business combination by September 6.

As a result, the company, as promptly as possible, but no later than September 20, will redeem 100% of the issued and outstanding Class A ordinary shares. The Company expects the Public Shares to cease trading as of the close of business on September 15, 2023.

Based upon the amount held in the trust account as of August 31, which was $245,508,929.17, the company estimates that the per-share redemption amount will be approximately $10.67.