OPY Acquisition I said it intends to redeem shares and liquidate, effective Dec. 28, as it will not meet the deadline for completing a deal.
Stockholders in October approved a deadline extension to June 30, 2024. Each monthly extension required a payment into the trust of the lesser of $35,000 or 15 cents a share. The SPAC made two monthly extensions to Dec. 29.
The SPAC raised $126.5 million in a November 2011 IPO.
OPY I was focused on healthcare assets in the United States, Europe and Israel. Read more.
