Supernova Partners Acquisition III sais it will redeem stock and liquidate effective March 27, as it will not meet the deadline for closing a deal.
The per-share redemption price for the public shares will be approximately $10.20.
The SPAC raised $250 million in an IPO two years ago, with plans to target a technology company focusing on internet, consumer, media and similar businesses.
Supernova III is led by Spencer Rascoff, who co-founded Hotwire and Zillow and who led Zillow as CEO for nearly a decade; Alexander Klabin, founder and CEO of Ancient Management and co-founder of Senator Investment Group; Robert Reid, an investor who worked for 21 years at Blackstone in its Private Equity Group; and Michael Clifton, an investor who was most recently a senior investment professional at The Carlyle Group. Read more.
