As such, the SPAC’s shares will stop trading as of the close of business on November 29. As of November 30, the shares will be deemed cancelled and will represent only the right to receive the redemption amount of $10.09.
In accordance with the terms of the trust agreement, Population Health Investment expects to retain $100,000 of the interest and dividend income from the trust to pay dissolution expenses.
PHIC initially IPO’d on November 19, 2020 and had 24 months to complete a business transaction, but it was unable to find a target to combine with. It had been searching for a target in the therapeutics sector of healthcare in the United States and other developed countries.