Orion Acquisition in a proxy filing asks shareholders to vote for an early liquidation before the end of the year, ahead of the SPAC’s March 2023 deadline.
Orion’s board in the filing said it had considered the time value of money, existing market conditions, the possible imposition of a 1% excise tax on stock repurchases under the Inflation Reduction Act of 2022 “and the conclusion that it is unlikely that Orion would be able to complete an initial business combination before the Original Termination Date.”
The SPAC raised $360 million in a March 2021 IPO to target companies in the healthcare industry in the United States or other developed countries. Read more.
