ALSP Orchid Acquisition I said it will not meet its deadline for completing a deal and so will redeem shares and shut down effective Nov. 14.
The per-share redemption price will be approximately $10.86. The balance of the trust as of Oct. 31 was just under $22 million.
The SPAC raised $172.5 million in a November 2021 IPO. ALSP Orchid was pursuing investments in North America and Singapore with an emphasis on life science companies. Read more.
