Enterprise 4.0 Technology Acquisition today announced it will redeem shares and shut down effective at the close of business Friday.
Shareholders in April approved a deadline extension to Oct. 21. At the time the SPAC said management believed a business combination could be completed by the new deadline.
“However, after careful consideration, the company has determined it would be unable to deliver a high quality transaction to shareholders even with an extension,” the SPaC said in a statement.
The SPAC’s IPO raised $300 million in October 2021. Enterprise 4.0 was focused on companies in the technology industry. Read more.
