FTAC Zeus Acquisition said it cancelled today’s shareholder meeting and has decided to liquidate, instead, effective Aug. 23.
The per-share redemption price is expected to be approximately $10.49.
The SPAC in a November regulatory filing said it would seek shareholder approval to wind up operations 60 days before its termination date on May 23, 2023, or by Aug. 23 of this year if it had executed a letter of intent for a deal but failed to close.
The fintech-focused SPAC raised $402.5 million in a November 2011 IPO although redemptions since then have eroded the trust account. Read more.
