TCV Acquisition Corp. Announces Liquidation of Company
TCV Acquisition Corp. (Nasdaq: TCVA) (the “Company”) announced the following today:
- The Company anticipates it will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association.
- Accordingly, the Company intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Memorandum and Articles of Association.
- As part of that dissolution and liquidation, the Company will redeem all of the outstanding Class A ordinary shares that were included in its initial public offering (the “Public Shares”) at a per-share redemption price of approximately $10.24.
“In light of current market conditions and available target opportunities, we have determined that it was in the best interest of TCVA shareholders to return the capital held in trust. We appreciate the TCVA shareholders who have supported us over the past two years,” said Jake Reynolds, Co-Chief Executive Officer of the Company.
As of the close of business on April 13, 2023, the Public Shares will represent the right to receive the redemption amount. Upon redemption such Public Shares will be deemed cancelled.
Read the source article at prnewswire.com