Trine II Acquisition today announced that it will redeem shares and liquidate effective May 2 because it will not complete a business combination by deadline.
The per-share redemption price will be approximately $10.35, Trine said. The balance of the trust account as of Dec. 31 was nearly $429 million, including approximately $6.3 million in interest and dividend income.
Trine II raised $414 million in a November 2021 IPO to target the TMT sectors — technology, media, and telecom. Read more.
Source: Trine II Acquisition Will Redeem and Dissolve