Recharge Acquisition announced that, due to its inability to close an initial business combination within its deadline, the SPAC intends to dissolve and liquidate effective at the close of business Oct. 5.
Shares will be redeemed at a per-share price of approximately $10.12. Warrants will expire worthless.
Recharge raised $200 million in an October 2020 IPO to target opportunities in the C-store sector.
The SPAC’s sponsor has agreed to waive its redemption rights to outstanding Class B common stock issued prior to the IPO and the Class A common stock contained in the units issued in a private placement concurrent with the IPO. Read more.
