Marlin Technology said it will redeem outstanding shares at the close of business Jan. 17 because the SPAC will not complete an initial business combination within deadline. Shares will cease to trade on the nasdaq at the market close Jan. 13.
Marlin raised $360 million in an ipo as year ago with plans to focus on companies in the tech sector with enterprise valuations of $1.5 billion to $3 billion.
The per-share redemption price is expected to be approximately $10.14 net of taxes and dissolution expenses. Read more.