Jiya Acquisition said it will redeem shares effective as of Nov. 25 because the company will not complete a deal by deadline.
The per-share redemption price is expected to be approximately $10.05.
Jiya raised $103.5 million two years ago in an IPO to target the biopharmaceutical sector. At the time, the SPAC also signed a deal with Samsara BioCapital, which agreed to purchase shares valued up to $25 million. Read more.
