Trepont Acquisition I in a regulatory filing said it will liquidate and redeem all ordinary shares, effective June 10. The SPAC’s inability to seal a deal by the June 4 deadline was cited as the reason.
Net of taxes and dissolution expenses, the per-share redemption price for the Class A Shares is expected to be approximately $10.10. Warrants expire worthless.
Trepont shareholders were set to vote today on a deadline extension, now moot.
Trepont raised nearly $239 million in a December 2020 IPO and private placement. The SPAC was targeting technology companies including software, communications, artificial intelligence, machine learning, data, analytics, 5G, IoT, cloud computing and security. Read more.
