Stratim Cloud Acquisition in an 8-K announced it will redeem stock and dissolve, effective at the close of business yesterday. Redemptions will begin July 27, according to the filing.
The move follows last month’s announcement that Force Pressure Control had terminated a merger agreement with Stratim Cloud. Force also agreed to pay the SPAC $250,000 for calling off the deal.
Stratim Cloud management said at the time they do not believe it would be possible to find and close another deal before the Sept. 16 deadline.
The SPAC raised $250 million in a March 2021 IPO. Read more.
