TG Venture Acquisition in an 8-K said its Nasdaq listing will be removed from the exchange April 19. Shares have not traded since last month, when the SPAC announced it would not appeal the delisting decision, which was based on TG Venture falling below the $15 million minimum market cap requirement..
This follows the termination in February of a deal with The Flexi Group, a workspace provider.
TG Venture said it is exploring its options and available legal remedies against Flexi in connection with the termination of the agreement “and intends to vigorously protect its rights under the business combination agreement.”
At deal announcement in December 2022, Flexi Group had a pro forma enterprise value of $205 million.
Redemptions following two favorable extension votes last year left approximately $9.66 million in the SPAC’s trust. Read more.
