Williams Rowland Acquisition today announced it will redeem stock and shut down, being unable to complete a deal by its March 29 deadline.
Since July last year, the SPAC’s sponsor has made monthly deposits of the lesser of $50,000 or 2 cents a share into trust for a deadline extension.
The SPAC’s shares will cease trading on the NYSE American as of Feb. 29.
Founder and co-CEO Jonathan Rowland sold his interest in the company for $300,000 last June.
Former professional hockey player David “Tiger” Williams continued to lead the SPAC as CEO following the departure of Rowland, who is founder of Mode Global Holdings. Read more.
