TPG Pace Beneficial II in an 8-K disclosed it will redeem stock and liquidate effective April 17, being unable to find and close a deal by its deadline.
The SPAC said it holds $400 million in trust, while the per-share redemption price will be $10.
At the time of its April 2021 IPO, the SPAC said it was “targeting a company that combines attractive business fundamentals with, or with the potential for, strong environmental, social and governance policies.”
Sister SPAC TPG Pace Beneficial Finance announced last September that it would shut down after failing to complete a deal. That SPAC’s proposed $969 million merger with EVBox, a subsidiary of ENGIE New Business, collapsed in 2021. Read more.
