Sports Ventures Acquisition announced that, due to its inability to close an initial business combination within deadline the SPAC intends to dissolve and liquidate. The per-share redemption price will be approximately $10.12.
Redemptions should be completed by Dec. 29, the SPAC said.
Sports Ventures and Oscar-winning visual effects company DNEG called off a merger in June by mutual consent, citing unfavorable market conditions. Read more.
