NewHold Investment II said that it will dissolve and liquidate after today because it was unable to file a registration statement with the SEC within the time required in order to extend its termination deadline by an additional six months.
The SPAC’s stockholders in December approved a measure to extend the termination deadline from April to June 2023, but also granted the SPAC’s board the option to choose early liquidation.
The per-share redemption price will be approximately $10.28, according to a press release.
The SPAC raised $175 million in an October 2021 IPO to acquire one or more industrial technology businesses with an aggregate enterprise value of $700 million or greater. Read more.
