Trajectory Alpha Acquisition in an 8-K said 10,891,882 shares were redeemed ahead of its extension vote, leaving 6,358,118 shares outstanding.
Approximately $10.325 per share will be paid out to redeeming investors.
The SPAC earlier this month changed management through the sale of its sponsor shares for $250,000 plus $1 to J. Streicher Holdings. The former sponsor transfer3ed to the acquirer 2,170,464 Class B shares and 4,525,000 warrants.
Trajectory Alpha has until March 2024 to complete a deal. The SPAC originally raised $174.2 million in a December 2021 IPO with the objective of merging with a disruptive, technology-driven business that leverages unique intellectual property and proprietary data. Read more.
