SPACInsider Logo
Recharge Acquisition Corp. (RCHG) to Liquidate Trust
by Marlena Haddad on 2022-09-15 at 5:04pm

Recharge Acquisition Corp. (NASDAQ:RCHG) announced this afternoon that it intends to dissolve and liquidate its trust after being unable to complete a business combination.

The SPAC had a transaction deadline set for October 5, but will now redeem all of its outstanding shares of Class A common stock issued as part of the units sold in its IPO at a per-share redemption price of approximately $10.12. As of the close of business on October 5, the public shares will be deemed cancelled and will represent only the right to receive the redemption amount, which will be completed by October 20.

With an IPO date of October 1, 2020, Recharge represents the 6th oldest searching SPAC and is the 23rd SPAC to liquidate in 2022 thus far. The company raised $200 million at IPO and intended to combine with a target with a recognizable brand and stable free cash flow. Recharge was led by Chairman Rajesh Soin, CEO and Director Anthony Kenney and CFO Michael Gearhardt.

Recent Posts
by Marlena Haddad on 2023-01-27 at 11:34am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...

by Nicholas Alan Clayton on 2023-01-27 at 10:00am

Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change.  However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...

by Kristi Marvin on 2023-01-27 at 7:33am

Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...

by Nicholas Alan Clayton on 2023-01-27 at 7:30am

In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...

by Marlena Haddad on 2023-01-26 at 5:32pm

Seaport Calibre Materials Acquisition Corp. (Nasdaq: SCMA) announced this afternoon that it is pushing today’s special meeting back until January 31. The SPAC is currently facing a completion deadline of February 1, but is looking to extend its timeline by an additional six months to August 1. Stockholders may elect to redeem their shares for a pro rata...

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