Nocturne Acquisition announced that it will be unable to complete a business combination with Cognos Therapeutics, and intends to liquidate the trust account.
The SPAC said it will redeem all outstanding public shares at a per-share redemption price of approximately $11.79. The stock is deeemed cancelled, effective today.
The SPAC had postponed a shareholder vote on the Cognos Theapetics deal four times since January to solicit proxies.
Cognos specializes in drug delivery devices for brain and spinal cancers, neurodegenerative disorders (such as Alzheimer’s and Parkinson’s disease), epilepsy, and stroke.
Nocturne raised $100 million in a March 2021 IPO with plans at that time to focus on targets bringing to market disruptive technologies in the blockchain/crypto and artificial intelligence technology sectors. Redemptions in the nearly three years since had reduced the trust to about $20 million as of December. Read more.
