Quadro Acquisition One in a regulatory filing said it will liquidate, being unable to complete a merger wintin deadline. The per-share redemption price is expected to be $10.96.
Quadro shareholders were expected to vote earlier this week on a deadline extension, although the SPAC has not filed the outcome of that meeting, or disclosed whether it was actually held as scheduled.
The SPAC had 1,570,680 shares outstanding after redemptions on an extension vote in November.
Quadro in January announced a merger agreement with Global Growth, a private equity firm founded by Greg Lindberg. The deal called for the SPAC to acquire seven companies in Global Growth’s sports collectibles, software, cloud-based IT and healthcare services segments with an estimated pro-forma enterprise value of $3 billion.
Originally known as Kismet Acquisition, the SPAC raised $200 million in a February 2021 IPO with plans to target companies in the Internet and technology sectors operating in Russia and Europe, although in a later 8-K filing the SPAC said it would no longer pursue targets in Russia or Belarus. Read more.
