Progress Acquisition in an 8-K said that because of its inability to complete a deal by deadline it will dissolve and liquidate.
The per share redemption price is currently being calculated, but is estimated to be approximately $10.29. Redemptions should be completed within the next nine days according to the filing.
Progress last month postponed and then cancelled an extension vote.
The SPAC raised $150 million in an IPO more than two years ago to target companies involved in cutting-edge media, entertainment and digital technology. Read more.
