SHUAA Partners Acquisition Corp I Announces Intent To Liquidate
Portfolio Pulse from Benzinga Newsdesk
SHUAA Partners Acquisition Corp I (NASDAQ:SHUA) announced it will dissolve and liquidate due to its inability to find a suitable target for a business combination. The company will not extend its deadline beyond November 4, 2023, and plans to cancel Class A ordinary shares on November 17, 2023. Shareholders will receive a pro rata portion of the Trust Account funds. Trading of SHUA's shares, units, and warrants will likely cease on November 16, 2023. There will be no redemption for warrants, and initial shareholders will not receive liquidating distributions unless they acquired Public Shares. Nasdaq will delist SHUA's securities, and the company will terminate its securities registration with the SEC.
November 14, 2023 | 10:18 pm
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SHUAA Partners Acquisition Corp I will liquidate and distribute funds from the Trust Account to shareholders. Trading of SHUA's securities will stop around November 16, 2023, and the securities will be delisted from Nasdaq.
The announcement of liquidation and the cessation of trading for SHUAA's securities will likely lead to a negative impact on the stock price in the short term. The liquidation process indicates the company's end of operations and delisting, which typically results in a decline in investor confidence and stock value.
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