Abri SPAC I announced the closing of its business combination with DLQ, a provider of e-commerce and digital customer acquisition solutions for digital advertising, and a subsidiary of Logiq (OTCQX: LGIQ).
Shares of the newly renamed company, Collective Audience, began trading today on the Nasdaq under the ticker symbol CAUD.
Chardan Capital Markets served as the financial advisor to Abri in the transaction.
Abri I said 96.5% of the shares of common stock were represented in person or by proxy and voted Oct. 23 in favor of the merger. The SPAC also disclosed that 639,963 shares were tendered for redemption, removing approximately $6.8 million ($10.68 per share) from the trust. Following redemptions, the company had 41,555 public shares outstanding.
The deal was valued at $114 million when announced in September 2022. Read more.
