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North Atlantic SPAC to dissolve after inability to find merger partner within 2-year deadline

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North Atlantic Acquisition Corp. a special purpose acquisition company (SPAC), or blank-check company, said Wednesday that it will dissolve and liquidate,...

North Atlantic Acquisition Corp.

a special purpose acquisition company , or blank-check company, said Wednesday that it will dissolve and liquidate, after failing to find a merger partner within the two-year deadline. The SPAC, with a market capitalization of $480.5 million at Tuesday’s stock closing price of $10.13, said it will redeem all of the outstanding shares included in the initial public offering filed in January 2021, at a per-share redemption price of $10.13.

a special purpose acquisition company , or blank-check company, said Wednesday that it will dissolve and liquidate, after failing to find a merger partner within the two-year deadline. The SPAC, with a market capitalization of $480.5 million at Tuesday’s stock closing price of $10.13, said it will redeem all of the outstanding shares included in the initial public offering filed in January 2021, at a per-share redemption price of $10.13.

 

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