Vector Acquisition II announced that it will redeem all Class A shares effective March 4, because the company will not complete a business combination by its March 12 deadline.
The per-share redemption price will be approximately $10.69, the SPAC said. The balance of the trust as of Feb. 8 was just under $42 million.
Vector II had raised $450 million in a March 2021 IPO.
The SPAC is sponsored by Vector Capital, a San Francisco-based $3.2 billion private equity firm focused on special situations investments in technology. Read more.
