Deep Lake Capital Acquisition announced today that it intends to redeem all outstanding shares as of Jan. 13.

The per-share redemption amount will be approximately $10.124.

Since it completed its January 2021 IPO, the SPAC said its management team has rigorously searched for appropriate targets.

“Ultimately, however, the company was not able to complete a transaction due to (a) the changing regulatory landscape around SPACs, (b) disconnect on valuations, and (c) volatility in capital markets and in deSPAC transactions, which dissuaded good companies from accessing the markets,” Deep Lake said in a statement.

In addition to fintech targets, the SPAC was also focused on ecommerce software, and the data and analytics sectors. Read more.

Source: Deep Lake Capital will Dissolve Next Week