Williams Rowland Acquisition announced that the liquidation price of its public stock will be $10.51833316 for each share owned as of March 8. The SPAC had a March 29 deadline to complete a deal, which it said it could not meet.
The SPAC’s securities will cease trading today on the NYSE American.
Williams Rowland initially announced its dissolution last week, though not the redemption price.
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.
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.
The fintech-focused SPAC raised $200 million in a July 2021 IPO. Read more.
