SPACInsider Logo
G&P Acquisition Corp. (GAPA) to Liquidate Trust
G&P Acquisition Corp. (GAPA) to Liquidate Trust
by Nicholas Alan Clayton on 2022-11-15 at 7:30am

G&P Acquisition Corp. (NYSE:GAPA) announced this morning that it will liquidate its trust and be redeeming all shares effective as of November 30.

As such, today is to be the SPAC’s final trading day. It last closed at $10.06 but will return a redemption rate of $10.17. G&P initially IPO’d in March 2021 and did not announce a business combination, but CEO Brendan O’Donnell noted it signed an LOI for “a very promising transaction” at one point.

But, O’Donnell said that “current market dynamics, enacted and pending changes in the regulatory environment, and unrealistic pricing expectations” kept G&P from getting a deal done and persuaded it to liquidate rather than extend.

Today would have been the 20-month SPAC’s transaction deadline. It had been searching for a target in the “food and beverage, consumer goods, automotive and hospitality sectors.”


Recent Posts
by Kristi Marvin on 2022-11-28 at 8:27pm

Considerations for Creating Shareholder Value in a Volatile Market   Join us for a virtual panel on December 14, 2022 The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger. Please...

by Marlena Haddad on 2022-11-28 at 12:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...

by Nicholas Alan Clayton on 2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

by Marlena Haddad on 2022-11-25 at 11:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...

by Nicholas Alan Clayton on 2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

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