World View And Leo Holdings Corp. II Intend To Mutually Agree To Terminate Business Combination Agreement
Portfolio Pulse from Benzinga Newsdesk
World View and Leo Holdings Corp. II (NYSE:LHC) have decided to terminate their business combination agreement due to challenging market conditions. Leo will dissolve and liquidate, redeeming all outstanding Class A Ordinary Shares at approximately $10.95 per share. Trading of the Public Shares has been suspended since November 17, 2023, and Leo will delist its securities from the New York Stock Exchange.
November 17, 2023 | 9:46 pm
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Leo Holdings Corp. II will dissolve and liquidate, redeeming its Class A Ordinary Shares at an estimated $10.95 per share. The company's securities will be delisted from the NYSE following the suspension of trading.
The termination of the merger agreement and the decision to dissolve and liquidate are significant negative developments for LHC. Shareholders will receive a redemption, but the future of the company is ending, which typically leads to a negative short-term impact on the stock price.
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