Hunt Companies Acquisition I announced that it will redeem all outstanding Class A ordinary shares effective Nov. 1 because it will not complete a merger within deadline.
The per-share redemption price will be approximately $10.16. The balance of the trust account as of June 30 was approximately $233.8 million, which includes $320,337 in interest and dividend income. In accordance with the terms of the trust agreement, the SPAC expects to retain up to $100,000 of the interest and dividend income to pay dissolution expenses. As a result, there is expected to be a total of about $233.6 million available for redemption of the 23 million shares outstanding.
Following its November 2021 IPO, the SPAC had planned to focus on businesses within the renewable energy, infrastructure services, and real asset services sectors. Read more.
