G Squared Ascend I announced that it will redeem all outstanding Class A shares effective at the close of business Feb. 9 because it will not consummate a deal within deadline.

The per-share redemption price for the public shares will be approximately $10.18.

G Squared and digital freight platform transfix called off a deal in October by mutual agreement, citing unfavorable market conditions.

The SPAC had raised $300 million in a February 2021 IPO to concentrate on a business combination in the technology sector. G Squared is led by Chairman Larry Aschebrook, founder of VC firm G Squared Equity Management. Read more.

Source: G Squared Ascend I Calls it Quits