TB SA Acquisition said it will redeem stock and dissolve effect March 13 as it will not complete a deal by deadline.
The per-share redemption price will be approximately $10.17. The trust balance as of Jan. 31 was almost $204 million, including approximately $3.6 million in interest and dividend income.
TB SA raised $200 million in an IPO two years ago with plans at the time to identify a target with a focus on African companies that promote Environmental, Social and Governance (“ESG”) principles. TB SA is led by CEO and Director Andrew Rolfe, who has served as a senior executive at several multinational corporations. Read more.
