Climate Real Impact Solutions II Acquisition today filed a proxy asking shareholders to approve a plan for winding up and redeeming shares head of the current January deadline. The vote is scheduled for Dec. 8.
The SPAC raised $210 million in a January 2021 IPO to focus on companies engaged in carbon reduction initiatives that address global warming.
Many blank-check firms that will not close a deal before their 2023 deadlines and seek to dissolve before the new year are motivated by a desire to avoid the 1% excise tax on stock redemptions and buybacks that goes into effect in January. Read more.
