Tailwind International Acquisition in an 8-K said it was notified that the NYSE plans to delist the SPAC from the exchange after falling below the minimum required $40 million capitalization for 30 consecutive trading days.

Tailwind said it is consdering its options, including liquidation or trading OTC.

Redemptions ahead of an extension vote in February erased 94% of the SPAC’s trust. Tailwind raised $300 million in an IPO nearly two years ago with plans to target international consumer internet and other high-growth technology companies in international markets, with a focus on the European market.

The SPAC also said Nathalie Gaveau, former president and a director, resigned March 31. Read more.

Source: Tailwind International Acquisition Faces NYSE Delisting