Just days after securing non-redemption agreements ahead of an extension vote, Seaport Calibre Materials Acquisition announced it will liquidate, instead.
The SPAC on Monday said it had secured an agreement with an investor to not redeem 150,000 shares of common stock ahead of a Feb. 1 shareholder vote on a deadline extension. The investor, in return, was to receive up to 37,500 sponsor shares.
The SPAC’s termination deadline was Wednesday, but the company had sought shareholder approval to extend the deadline to Aug. 1.
Instead, Seaport Calibre now plans to redeem shares and dissolve.
The per-share redemption price is expected to be approximately $10.27. Read more.
