JAWS Juggernaut Acquisition said its board has decided not to pursue an extension and will instead cease operations June 22 with redemptions to begin the following day.
The per-share redemption price will be approximately $10.33.
The SPAC said last month it would ask shareholders for a one-year extension. Jaws Juggernaut raised $240 million in an ipo two years ago with plans to focus on wireless communications and related technology/product/service businesses.
aws Juggernaut is led by Chairman barry sternlicht, who founded Starwood Capital in 1991 and currently serves as chairman and CEO. Starwood Capital is a private alternative investment firm focused on global real estate, hotel management, oil and gas, and energy infrastructure with over $73 billion of AUM. Read more.