Counter Press Acquisition Corp Intends to Dissolve and Liquidate
10 Febbraio 2023 - 10:05PM
Counter Press Acquisition Corp. (the “Company”)(Nasdaq: CPAQ)
announced the following today:
- The Company anticipates that the Company cannot 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 shares of Class A ordinary share that
were included in its initial public offering (the “Public Shares”)
at a per-share redemption price of approximately $10.15.
As of the close of business on or before February 27, 2023,
the Public Shares will represent the right to receive the
redemption amount. Upon redemption such Public Shares will be
deemed cancelled.
To provide for fund disbursements from the trust
account, the Company has instructed the trust account’s trustee to
take all necessary actions to liquidate the trust account. The
trust account’s proceeds will be held in a non-interest bearing
account while awaiting disbursement to the holders of the Public
Shares.
Record holders may redeem their shares for their
pro-rata portion of the trust account’s proceeds by delivering
their Public Shares to Continental Stock Transfer & Trust
Company, the Company’s transfer agent. Beneficial owners of Public
Shares held in “street name,” however, will not need to take any
action to receive the redemption amount. The redemption of the
Public Shares is expected to be completed on February 27,
2023.
The Company’s initial stockholders have waived
their redemption rights with respect to its outstanding ordinary
shares issued before the Company’s initial public offering.
About Counter Press Acquisition
Corp.
The Company is a blank-check company organized
to effect a merger, share exchange, asset acquisition, share
purchase, recapitalization, reorganization, or other similar
business combination with one or more businesses or
entities.
Forward-Looking Statements
This press release may include “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements are based on
the beliefs and reasonable assumptions of management, and actual
results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors detailed
in the Company’s filings with the U.S. Securities and Exchange
Commission. The Company undertakes no obligation to update any
forward-looking statements after the date of this release, except
as required by law.
SOURCE Counter Press Acquisition Corp.
Contact:
Investors Counter Press Acquisition Corporation
info@counterpressacq.com
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