Hawks Acquisition announced that it will redeem all shares and cease operations because it will not complete an initial business combination within deadline.
Although shareholders voted two months ago to extend the SPAC's deadline until Dec. 13, the board advanced the deadline to this month and decided to liquidate.
The last day of trading on the nyse will be July 11.
Hawks raised $200 million in an October 2021 IPO to focus on businesses that have either emerged from a restructuring or private companies that are burdened by leveraged capital structures.
Redemptions totaling $192.5 million ahead of the April extension vote left approximately $40.64 million in trust. Read more.
Source: Hawks Acquisition to Redeem Stock and Shut Down