Altimar Acquisition III announced that it will redeem all outstanding Class A shares effective Sept. 22 because the SPAC will not meet ints deadline for completing a deal.
The per-share redemption price will be approximately $10.34, the SPAC said. The balance of the trust account as of June 30 was nearly $42 million, which includes approximately $467,329 in interest income.
The last day of trading on the NYSE will be Sept. 8.
Altimar III had raised $135 million in a March 2021 IPO but never announced a deal.
“We intend to pursue companies that we believe are poised to experience strong growth and possess efficient business models that are or will be strong cash flow generators,” management said in the initial S-1 filing.
The SPAC was led by executives of HPS Investment Partners.
Sister SPAC Altimar II completed a merger with Fathom Digital Manufacturing in December 2021. Read more.
