Ascendant Digital Acquisition III announced that it will redeem all of outstanding Class A ordinary shares effective Feb. 16 because the SPAC will not be able to close a deal by deadline.
The redemption amount will be announced later, Ascendant III said in a press release.
The SPAC raised $300 million in a November 2021 IPO to focus on businesses that operate within the “Attention Economy.” The NYSE in December delisted the SPAC's warrants due to what the exchange called “abnormally low” pricing levels. Read more.
Source: Ascendant Digital III Dissolving Feb. 16