Macondray Capital Acquisition I in a press release said it intends to liquidate and dissolve effective at the close of business Jan. 6 and will redeem all outstanding shares. The per-share redemption price is expected to be $10. The SPAc said it would be unable to close a business combination by its deadline, coming up next month.
Macondray I raised $250 million in a July 2021 ipo. The SPAC was targeting companies with an aggregate enterprise value of at least $1.5 billion in the software, data and technology, media and telecom (“TMT”) industries. Read more.