World Quantum Growth Acquisition said it will be unable to complete a merger by deadline and so will liquidate effective Feb. 24.
The estimated per-share redemption price is expected to be approximately $10.29.
World Quantum last week said it would add $300,000 (3 cents a share) per month if shareholders approved a deadline extension. The SPAC instead called the meeting yesterday and adjourned indefinitely without conducting any business.
After raising $200 million in an August 2021 IPO, the SPAC was targeting financial services and the financial technology sectors in the U.S. and EMEA as well as relevant technology firms supporting these sectors. Read more.
