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The Latest Liquidations: December 16, 2022
by Nicholas Alan Clayton on 2022-12-16 at 6:09pm

Latest SPAC Liquidations: Velocity, Hennessy Capital V, Glass Houses, Figure I


Velocity Acquisition Corp. (VELO) to Liquidate on December 20

Velocity Acquisition Corp. (NASDAQ:VELO) will not consummate an initial business combination and intends to dissolve and liquidate effective as of the close of business on December 20, 2022. It will redeem all of the outstanding Class A shares at an anticipated per-share redemption price of approximately $10.00.

As of the close of business on December 20, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.

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Hennessy Capital V (HCIC) to Liquidate on December 21

Hennessy Capital Investment Corp. V (NASDAQ:HCIC) has canceled its special meeting of stockholders that was previously scheduled for 3:00 PM Eastern time on December 21, 2022, and that, due to its inability to complete an initial business combination the Company intends to dissolve and liquidate, effective as of the close of business on December 21, 2022.

It will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering at a per-share redemption price of approximately $10.06

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Glass Houses (GLHA) to Liquidate on December 22

Glass Houses Acquisition Corp. (NASDAQ:GLHA) announced in an 8-K that its shareholders had voted to liquidate the SPAC early with the redemption limits on individual holders eliminated.

As such, today was the last day of trading of the company’s public shares and units on Nasdaq. The Company is obligated to redeem all public shares as promptly as possible but not more than 10 business days after the early termination date. The Company expects to complete the redemption on or about December 22, 2022 with an estimated $10.10 per share in its trust.

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Figure Acquisition Corp. I (FACA) to Liquidate on December 30

Figure Acquisition Corp. I (NYSE:FACA) today announced that its stockholders approved an amendment to its certificate of incorporation to permit the Company to wind up early.  The Company has made this election and, as a result, it will redeem all of its outstanding shares and its warrants will expire worthless.

All other Class A stockholders will receive payment of the redemption price, net of taxes and dissolution expenses, on December 30, 2022. The per share redemption price is expected to be approximately $10.05.

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