Cascade Acquisition announced that it intends to dissolve and liquidate due to its anticipated inability to complete a deal within the required time period. The redemption price will be $10.10 per share.
As of the close of business May 24, shares will be deemed cancelled and will represent only the right to receive the redemption amount.
Chairman and CEO Jay Levine is a former chairman of OneMain Financial.
The SPAC netted $202 million in a December 2020 IPO and private placement, with plans at that time to target financial services companies. Read more.
