The Latest Liquidations: December 9, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Crypto 1, DILA Capital, SCP & CO Healthcare, Cohn Robbins, and ScION Growth Tech I
Crypto 1 Acquisition Corp. to Liquidate
Crypto 1 Acquisition Corp. (NASDAQ:DAOO) does not expect to complete an initial business combination and will instead liquidate its trust. The company will redeem all of the outstanding shares of Class A common stock at a per-share redemption price of approximately $10.14 on December 19, 2022.
DILA Capital Acquisition Corp. to Liquidate
DILA Capital Acquisition Corp (Nasdaq: DILA) today announced that it will redeem all of its outstanding shares of Class A common stock, effective as of the close of business on December 22, 2022, due to its inability to complete a business combination.
The per-share redemption price for the public shares is expected to be approximately, but not less than, $10.00. DILA expects that the last day of trading of its units and common stock on the Nasdaq will be December 22, 2022.
READSCP & CO Healthcare Acquisition Company to Liquidate
On December 8, 2022, stockholders of SCP & CO Healthcare Acquisition Company (NASDAQ:SHAC) approved an amendment to allow the company to unwind and redeem all of its outstanding public shares. The Board of Directors set December 9, 2022 as the amended termination date.
Holders of 22,697,589 public shares of Class A Common Stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.11 per share, for an aggregate redemption amount of approximately $229,480,867. Following such redemptions, 302,411 public shares of Class A Common Stock remain outstanding.
SCP & CO expects to redeem all remaining public shares on December 12, 2022. The company estimates that the total redemption amount will be approximately $3,057,485, and the per-share redemption amount will be approximately $10.11.
Cohn Robbins Holding Corp to Liquidate
Cohn Robbins Holding Corp. (OTCPK:CRRCF) has not made a formal announcement regarding liquidation, however, it included in its recent filed 10-Q a statement intending to liquidate.
“The Company will not complete an initial business combination by December 11, 2022, and so it will liquidate and subsequently dissolve in accordance with the provisions of its Amended and Restated Articles of Association and will redeem all Public Shares, at a per-share redemption price of approximately $10.04. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.”
READScION Growth Tech I to Liquidate
ScION Growth Tech I (Nasdaq:SCOA) today announced that its board of directors has determined to redeem all of its outstanding Class A ordinary shares, effective as of December 22, 2022, due to the company’s inability to complete a business combination.
The company anticipates that the last day of trading of its Class A Shares will be December 21, 2022 and that, as of the open of business on December 22, 2022, the shares will be suspended from trading, will be deemed cancelled and will represent only the right to receive the per-share redemption price for the public shares to be announced at a later date.
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