Revolution Healthcare Acquisition in a proxy filing seeks shareholder approval to wind up operations and liquidate starting Dec. 2 — unless in the unlikely event it can find a merger partner and close a deal by then. The current termination date is March 22, 2023.
Based on the $554 million held in the SPAC’s trust account as of Oct. 28, Revolution Healthcare estimates that the per-share redemption price will be approximately $10.07.
Many of the SPACs planning to liquidate by year’s end are motivated, in part, by a desire to avoid the new 1% excise tax on stock buybacks and redemptions that goes into effect in January. Read more.
