The Latest Liquidations: May 8, 2023
May 8, 2023 INTEL by Marlena Haddad
Latest SPAC Liquidations: Progress Acquisition Corp.
Progress Acquisition Corp. (PGRW) to Liquidate
On May 7, 2023, the board of directors of Progress Acquisition Corporation (NASDAQ:PGRW) determined that it intends to dissolve and liquidate and will redeem all of the outstanding shares of Class A common stock at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the Company’s trust account divided by the number of then outstanding Public Shares.
The per share redemption price is currently being calculated. The company has estimated it to be approximately $10.29, and will file an amended 8-K to disclose the final amount if it is materially different from the estimated amount.READ