Sarissa Capital Acquisition Corp. (NASDAQ:SRSAU) announced this afternoon that it will not consummate a business combination and will instead liquidate its trust, effective as of October 31, 2022.

Following the closing of business, shareholders are to receive the pro rata trust amount of $10.05 per share within the next 10 days. Sarissa Capital originally announced the pricing of its $175 million IPO in October 2020 and initially aimed to combine with a healthcare target with strong intellectual property and the ability to benefit from capital restructuring.

Sarissa will now be the 34th SPAC to announce its intention to liquidate in 2022.