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The Latest Liquidations: December 7, 2022

liquidation

The Latest Liquidations: December 7, 2022

 


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

Latest SPAC Liquidations: Mission Advancement Acquisition Corp., and Clarim Acquisition Corp.


Mission Advancement Acquisition Corp. Shareholders Approve Liquidation Date Amendment   

On December 6, 2022, the stockholders of Mission Advancement Corp. approved an amendment to allow the company to unwind and redeem all of its outstanding public shares prior to December 30, 2022.

Following the implementation of the amendment, the Board of Directors of Mission Advancement set December 7, 2022 as the amended termination date.

Holders of 34,035,401 public shares of Class A Common Stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.07 per share, for an aggregate redemption amount of approximately $342,841,438.

Following such redemptions, 464,599 public shares of Class A Common Stock remain outstanding. Mission Advancement expects to redeem all remaining public shares of the company on December 14, 2022, for a total redemption amount of approximately $4,679,945, and a per-share amount of $10.07.

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Clarim Acquisition Corp. Shareholders Approve Liquidation Date Amendment 

On December 7, 2022, Clarim (NASDAQ:CLRM) held a special meeting where stockholders approved a proposal to liquidate early.

The Board has established December 7, 2022 as the early termination date. As such, the last day of trading of Clarim’s public shares and units on the Nasdaq Stock Market LLC was on December 7, 2022. The company expects to complete the redemptions on or about December 12, 2022.

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