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The Latest Liquidations: December 12, 2022

liquidation

The Latest Liquidations: December 12, 2022

 


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

Latest SPAC Liquidations: Arena Fortify, and Science Strategic Alpha


Arena Fortify Acquisition Corp. to Liquidate

On December 8, 2022, Arena Fortify Acquisition Corp. stockholders approved a proposal to permit the company to liquidate and wind up early. The termination date was amended from February 15, 2023, to December 9, 2022.
Holders of 17,199,049 public shares exercised their right to redeem for approximately $10.27 per share, for an aggregate redemption amount of approximately $176,566,159. The company expects to complete the redemption on or about December 14, 2022.

Science Strategic Acquisition Corp. Alpha to Liquidate

On December 9, stockholders of Science Strategic Acquisition Corp. Alpha approved an amendment to liquidate the trust today, December 12.

Holders of 30,449,825 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 $306,609,408. Following such redemptions, 600,175 shares of Class A Common Stock remain outstanding.

The company estimates that the total amount in the trust available for redemption, after accounting for the exclusion of $41,612 of interest to pay dissolution expenses, will be approximately $6,001,750, and the redemption amount will be approximately $10.00.

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