Talon 1 Acquisition in an 8-K said management has determined not to seek a deadline extension and will instead redeem all outstanding shares effective June 20. The SPAC was unable to meet its deadline for finding and closing a deal.
The per-share redemption price will be approximately $10.49. The trust balance as of June 7 was almost $102 million.
Talon raised $200 million in a November 2021 IPO. The SPAC was focused on companies in the global aerospace, aviation and aviation services industries.
Shareholders ahead of a January extension vote redeemed 13,317,392 shares at approximately $10.41 each, for nearly $139 million. That left the SPAC with slightly less than $101 million in trust at the time. Read more.
