A week after cancelling a shareholder vote on a deadline extension, ST Energy Transition I announced today that it will redeem outstanding stock and shut down Wednesday, which is the SPAC's current deadline.
The per-share redemption price is expected to be approximately $10.48 based on the $301,477,161 held in trust. Shares will end trading at the close of business June 7.
The SPAC raised $250 million in a December 2021 ipo, but never announced a deal. ST Energy was focused “on opportunities that contribute in positive ways towards energy transition and clean energy technology.” Read more.