CC Neuberger Principal Holdings III in an 8-K filed today said its board has decided not to proceed with another one-month extension. As a result, the SPAC will cease operations and shut down.
The per-share redemption price will be approximately $10.93.
Trading in the SPAC’s stock will be suspended tomorrow, acording to the filing.
The SPAC raised $402.5 million in a February 2021 IPO, and had been focused on businesses with “compelling long-term growth, attractive competitive dynamics, consolidation opportunities and low risk of technological obsolescence.” Read more.
