Northern Star Investment III and Northern Star Investment IV in regulatory filings today said their respective shareholders approved plans to reorganize and to remove provisions applicable to SPACs. Both companies intends to continue pursuing the acquisition of a business.
Stockholders can continue to hold their shares following final distribution of the funds held in trust, so they could be able to participate in a potential transaction. The final distribution from the trust will be made April 10 at approximately $10.605 per share for Nothern Star III and $10.711 per share for Nothern Star IV. Both SPACs expect to pay out by April 12.
The SPACs’ shares will remain outstanding following the distribution and will continue to trade on the OTC Pink. Read more.
