Evo Acquisition to Liquidate After Last Month’s Deal Termination

Evo Acquisition intends to liquidate as soon as practicable on or after May 8.

The announcement follows Evo's terminated merger agreement last month with 20Cube Logistics Pte. Ltd. The SPAC's board has decided not to extend the deadline beyond the current Msay 8.

The per-share redemption price is expected to be $10.12 per share.

Redemptions on an extension vote in December had erased more than 92% of Evo's trust, leaving the SPAC with less than $10 million.

Evo raised $100 million in a February 2021 IPO, saying at the time it would concentrate on companies in the technology and financial sectors. Read more.

Source: Evo Acquisition to Liquidate After Last Month's Deal Termination