7 Acquisition said today it will be unable to close a deal by its deadline and so will redeem and shut down May 10.
The per-share redemption price is expected to be approximately $10.48.
7 Acquisition raised $230 million in a November 2021 IPO. The SPAC said in its initial filing with the SEC that it would target companies providing environmental, business and/or infrastructure products and services that will contribute to a more sustainable future.
7 Acquisition is led by Chairman Craig Cogut, who founded Pegasus Capital Advisors in 1996 and serves as chairman and CEO. Pegasus is a private alternative asset management firm. Read more.
