Infinite Acquisition said its board has determined to redeem shares and wind up, effective Nov. 6, because the SPAC will not complete an initial business combination by deadline.
Share redemptions are expected to be completed 10 business days following the company’s termination deadline, which was yesterday.
Infinite raised $240 million in an IPO two years ago. With backing from NBA star Kevin Durant, the SPAC was targeting technology-enabled platforms disrupting the traditional worlds of sports, health and wellness, food technology and supply, e-commerce, and crypto and digital assets. Read more.
