Gardiner Healthcare Acquisitions today announced that the board has decided to dissolve the SPAC and will not complete a deal. The company will redeem shares effective at the close of business Dec. 18. The announcement did not cite a price.
Gardiner raised $75 million in a December 2021 IPO to focus on the healthcare sector or healthcare related industries in North America and Europe.
The SPAC in October said it was notified by the Nasdaq for falling below the minimum 300 shareholders requirement for a continued listing. Gardiner had said it would submit a plan to regain compliance by a Dec. 8 deadline.
The SPAC also said the exchange had granted the company’s request for transfer down to the Nasdaq Capital Market, where shares began trading today. That move followed the Nasdaq’s notification in September that the SPAC had fallen below 400 shareholders required for a continued listing on the Nasdaq Global. Read more.
