Texas-based Warrior Technologies Acquisition cancelled its stockholders meeting that was previously scheduled for today and, in a press release, said it will liquidate due to its inability to complete an initial business combination within deadline. The SPAC will dissolve effective Friday.
Outstanding shares will be redeemed at a per-share redemption price of approximately $10.01. The company’s sponsor has agreed to waive its redemption rights to Class B common stock issued prior to the IPO. Warrants will expire worthless.
Today’s cancelled meeting was initially called so shareholders could have voted on a deadline extension to March 2023.
The SPAC raised $240 million in March 2021 to pursue a business combination with one or more companies in the environmental services sector with a focus on environmental, social and governance (ESG) practices. Read more.
