NOVO Tellus Alpha Acquisition will not complete a business combination after “careful consideration and thorough evaluation of potential targets,” and taking into consideration current market conditions.
The SPAC made the announcement today ahead of its Jan. 26 deadline, which marks 24 months from the company’s IPO listing.
NOVO Tellus said that it will announce redemption details in due course, The Business Times reported.
This marks the third Singapore SPAC to liquidate after two others shut down without completing deals last year. Read more.
