Ibere Pharmaceuticals announced that it will redeem shares effective at the close of business March 2 as the SPAC will not complete an initial business combination by its deadline.
The per-share redemption price will be approximately $10.17.
The shares will cease trading at the close of business March 1.
Ibere raised $120 million in an ipo two years ago with plans to focus on opportunities in the pharmaceutical and life sciences industries. Read more.
Source: Ibere Pharmaceuticals to Redeem Shares and Dissolve Next Month