BCLS Acquisition said its shares will be cancelled effective Oct. 26 as the SPAC begins to wind up after failing to reach a suitable merger deal within deadline.
The per-share redemption price will be approximately $10.03. The balance of the trust was $144,329,573, which includes $579,573 in interest and dividend income. BCLS expects to retain $100,000 of the interest and dividend income to pay dissolution expenses.
The SPAC priced its $125 million IPO in October 2020, with plans at that time to merge with a life sciences target developing innovative biotech, pharmaceutical or diagnostics technology. Read more.
