Liberty Media Acquisition in a proxy filing asks shareholders to vote in favor of allowing the SPAC to wind up operations before Dec. 30. The SPAC’s termination date is Jan. 26, 2023.
Liberty Media cited the challenges of finding a target with a fair valuation, volatile market conditions and potential US tax liabilities on stock redemptions next year as reasons for liquidating before the new year.
Liberty Media raised $575 million in a January IPO. The Raine Group in March rejected a bid from Liberty Media to buy the Chelsea Football Club in West London. Read more.
