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The Latest Liquidations: December 6, 2022

liquidation

The Latest Liquidations: December 6, 2022

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC Liquidations: Broadscale, Revolution Healthcare, Research Alliance II, and Kairos


Broadscale Acquisition Corp. to Liquidate 

On December 6, 2022, stockholders of Broadscale Acquisition Corp. (NASDAQ:SCLE) approved amendments to change the termination date from February 17, 2023 to December 8, 2022.

In connection with the amendment, the holders of 33,825,224 shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.08 per share, for an aggregate redemption amount of approximately $340.95 million. Following the redemptions, 674,776 shares remain outstanding.

Broadscale estimates that the total redemption amount will be approximately $6.75 million, and the per-share Redemption Amount will be approximately $10.00.

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Revolution Healthcare Acquisition Corp. Shareholders Approve Liquidation Date Amendment 

On December 2, 2022, Revolution Healthcare (NASDAQ:REVH) held a special meeting of stockholders to amend the company’s termination date from March 22, 2023, to December 2, 2022. The amendment was approved with 44,363,975 votes in favor of it and 22,042 against it.

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Research Alliance Corp. II Shareholders Approve Liquidation Date Amendment 

On December 2, 2022, Research Alliance II (NASDAQ:RACB) held a special meeting of stockholders to amend the company’s termination date from March 22, 2023, to December 2, 2022. The amendment was overwhelmingly approved with 16,553,346 votes in favor of it and just 1,854 votes against it.

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Kairos Acquisition Corp. Announces Liquidation 

Kairos Acquisition Corp. (Nasdaq: KAIR) announced today that due to its inability to complete a business combination, the company intends to dissolve and liquidate, effective as of the close of business on December 6, 2022, and will redeem all of the outstanding shares at a per-share redemption price of approximately $10.08.

The redemption of the shares is expected to be completed by January 3, 2023.

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