The New York Stock Exchange will delist the warrants of RedBall Acquisition from the exchange following the SPAC’s announcement last week that it will liqudate this month.
Trading in the company’s warrants was suspended immediately. Trading in Red Ball’s shares — ticker symbol RBAC — and Units — ticker symbol RBAC U — is expected to continue through Aug. 16.
According to the exchange, NYSE Regulation determined that the warrants are no longer suitable for listing based on “abnormally low” price levels. Because the SPAC is dissolving, the warrants will expire worthless, anyway.
RedBall in June terminated a merger deal with ticketing platform SeatGeek. The business combination had an enterprise value of approximately $1.35 billion. Read more.
