Iconic Sports Acquisition today announced that its board has determined to redeem all shares and liquidate the company effective Oct. 11, being unable to complete a deal by its Sept. 26 deadline.
The agreement between Iconic Sports Eagle Investment, an affiliate of the SPAC’s sponsor Iconic Sports Management, and Eagle Football Holdings Limited has expired.
The SPAC raised $300 million in an October 2021 IPO, but lost more than two-thirds of its trust to redemptions on an extension vote in April. Read more.
