Benessere Capital Acquisition announced that, following the recent termination of its proposed business combination with eCombustible Energy, ongoing regulatory investigations, and the company’s sponsor not making additional monthly contributions to the trust account for deadline extensions, that it will dissolve and liquidate. The per-share redemption price will be approximately $10.45.
The SPAC’s initial stockholders have waived their redemption rights with respect to the outstanding shares of common stock issued prior to the IPO or in a private placement in connection with the closing of the IPO.
Former merger partner eCombustible walked away from a deal with the SPAC a week ago. No reason was given.
Benessere’s stockholders in July approved an extension date for the merger deadline to Jan. 7, 2023. The deal was valued at $805 million. Read more.
