Blank-check firm Colonnade, led by investors Joseph Sambuco and Remy Trafelet, raised $300 million in an ipo and started trading on the NYSE on March 10, 2021. In August 2022, payments provider Plastiq said it would go public through a merger with the firm, creating a company with a value of about $480 million.

The SPAC did not complete the combination by its March 12, 2023 deadline, however, and on March 9 issued a press release that it will cease operations, redeem the public shares and dissolve. Read more.

Source: With no Merger Deal, Failed SPAC Faces Lawsuit Over Legal Fees