SPAC Ribbit LEAP announced that it will redeem all of its outstanding shares effective at the close of business on Aug. 15. The blank-check company said it will not complete an initial business combination within the time period required.
The redemption price per share is expected to be $10.02. The SPAC’s trust holds about $403.6 million, according to a press release.
The fintech-focused SPAC completed its IPO last September. Read more.
