Thunder Bridge Capital Partners III announced that the board has determined the SPAC cannot complete a merger by its Feb. 10, 2024, deadline and will instead redeem shares and dissolve.
The estimated redemption price is expected to be approximately $10.22 per share, which will be paid out within 10 business days of Dec. 11.
Thunder Bridge III was focused on companies in the financial services industry. The SPAC raised $414 million in a February 2021 IPO, but never announced a deal. Read more.
