The NYSE announced today that the exchange will delist the warrants of Advanced Merger Partners — ticker symbol AMPI WS. Trading was suspended immediately.
Trading in the SPAC’s Class A common stock — ticker symbol AMPI and units (AMPI.U) — will continue.
The SPAC yesterday filed a preliminary proxy seeking approval for an accelerated termination date ahead of the March 4, 2023 deadline. A meeting date to vote on the matter has yet to be published.
NYSE Regulation determined that the SPAC’s warrants are no longer suitable for listing based on “abnormally low” price levels. The warrants will expire as worthless once liquidation proceedings begin, assuming shareholder approval of the plan.
Advanced Merger raised $250 million in a March 2021 IPO to target middle-market companies. Read more.
