Shelter Acquisition I announced that stockholders voted yesterday to change the SPAC’s termination date date from Jan. 2 to June 30, 2023 — or earlier if determined by the board of directors.
Because the SPAC does not believe it will be able to complete an initial business combination by the termination date, the board unanimously determined to liquidate and redeem all remaining shares before the end of the fiscal year in order to avoid incurring additional tax liabilities. Redemptions are expected to be completed by Dec. 27.
Shelter I raised $200 million in a June 2021 IPO with plans to target businesses that provide technologically innovative solutions to the real estate industry. Read more.
