The Latest Liquidations: June 29, 2023

Latest SPAC Liquidations: Stratim Cloud

Stratim Cloud Acquisition Corp. (SCAQ) Terminates Force Pressure Control Deal, Intends to Liquidate 

On June 27, Stratim Cloud (NASDAQ:SCAQ) received a letter from Force purporting to terminate the Purchase Agreement and each of the transaction agreements entered into in connection with the Purchase Agreement. On June 28, the parties agreed to mutually terminate the Purchase Agreement, effective immediately. Force has agreed to pay the company the sum of $250,000 due no later than five business days from the date of the termination.

As a result, the company does not expect to be able to consummate an initial business combination by September 16, and will liquidate.