B. Riley Principal 250 Merger announced that its board has determined to redeem all outstanding shares effective May 4 because the SPAC will not complete a business combination by deadline.
The per-share redemption price is expected to be approximately $10.15.
B. Riley Principal 250 Merger raised $150 million in an IPO nearly two years ago “to focus on businesses that have a history of, or potential for, strong cash flow generation and growing revenue streams, and would benefit from access to public markets and the operational and strategic expertise of its management team and board of directors.” Read more.
