Belong Acquisition Corp. Announces Redemption Amount Of Its Public Shares; Approximately $10.23/ Share
Portfolio Pulse from Benzinga Newsdesk
Belong Acquisition Corp. (NASDAQ:BLNG) has announced the redemption price for its outstanding Class A common stock shares at approximately $10.23 per share. The company will redeem all of its public shares as it will not be able to complete an initial business combination within the required time period. The redemption process is expected to be completed within ten business days after July 27, 2023. The company's sponsor has agreed to waive its redemption rights for its Class B common stock issued prior to the IPO. The company's securities are expected to be delisted from the Nasdaq Stock Market.
July 25, 2023 | 8:21 pm
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Belong Acquisition Corp. is redeeming all of its public shares at $10.23 each. The company's securities are expected to be delisted from the Nasdaq Stock Market.
The company is redeeming all of its public shares and expects to be delisted from the Nasdaq Stock Market. This indicates a significant change in the company's operations and is likely to have a negative impact on the stock price in the short term.
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