LAVA Medtech Acquisition over the weekend announced that its board has elected to abandon the extension approved by stockholders April 25, because it does not believe that the SPAC would be able to complete a merger on favorable terms even with the extension.
As a result, LAVA's liquidation was effective April 29. The per-share redemption price will be approximately $10.42, according to a press release.
LAVA's October 2021 ipo raised $115 million. The SPAC's acquisition focus was on companies within the healthcare and healthcare-related industries, primarily in the United States and Canada. Read more.