The Latest Liquidations: November 29, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Sandbridge X2 Corp., PWP Forward Acquisition Corp. I, Crucible Acquisition Corp., and Tishman Speyer Innovation Corp. II
Sandbridge X2 Corp. to Liquidate Trust
Sandbridge X2 Corp. (NYSE:SBII) disclosed in an 8-K this afternoon that shareholders have approved an amendment to allow the company to redeem all of its outstanding Class A common stock on or prior to December 15, 2022.
In connection with the meeting, holders of 21,611,237 outstanding shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $218,136,001.27. Following such redemptions, 2,206,464 shares remain outstanding and the company expects to redeem those shares at $10.09 as well.
READPWP Forward Acquisition Corp. I to Liquidate Trust
Crucible Acquisition Corp. to Liquidate Trust
Crucible Acquisition Corporation (NYSE:CRU) disclosed in an 8-K this afternoon that it held a special meeting of its stockholders at which the company’s stockholders approved amendments to dissolve and liquidate its trust.
The SPAC’s completion deadline was moved from January 7, 2023 to November 30, 2022. Holders of 24,243,057 shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of $244,554,766.56.
Following the redemptions, 1,631,943 shares remain outstanding will be redeemed for cash at a redemption price of approximately $10.03 per share, for an aggregate redemption amount of $16,362,422.20.
READTishman Speyer Innovation Corp. II to Liquidate Trust
At the special meeting of the stockholders of Tishman Speyer Innovation Corp. II (NASDAQ:TSIB) held this afternoon, stockholders of the company approved an amendment to change the termination date from February 17, 2023 to November 30, 2022.
The company now expects to complete the mandatory redemption on or around December 2, 2022, at a per-share redemption price of approximately $10.00.
READ