Blue Whale Acquisition I announced it will suspend operations and wind down next month, being unable to close a deal by its Aug. 6 deadline.
Net of taxes and expenses, the per-share redemption price is expected to be approximately $10.15 based on the nearly $233 million in trust as of July 26.
Blue Whale stock will cease trading Aug. 4. Redemptions are expected to be completed by Aug. 18.
The SPAC raised $200 milion in an IPO two years ago and was pursuing companies in the media, entertainment and technology industries.
The SPAC is sponsored by Mubadala Capital, the asset management subsidiary of Mubadala Investment Company PJSC, a global sovereign investor headquartered in Abu Dhabi, with more than $243 billion AUM. Read more.
