Connnecticut-based Atlantic Avenue Acquisition canceled its shareholders meeting originally scvheduled today and announced that it will liquidate, effective Thursday. The SPAC was unable to complete a deal within its deadline.
The redemption price per share is expectedd to be approximately $10.03.
The SPAC was formed by MC Credit Partners targeting the business and consumer-related sectors. The company raised $250 million in an October 2020 IPO.
Atlantic Avenue earlier this month said it would ask shareholders for a six-month extension. Read more.
