PepperLime Health Acquisition Corporation Announces Plan To Liquidate
Portfolio Pulse from Benzinga Newsdesk
PepperLime Health Acquisition Corporation (NASDAQ: PEPL) announced its intention to liquidate after failing to complete an initial business combination by January 19, 2024. Shareholders of record as of February 7, 2024, will receive their share of the Trust Account funds on or about February 8, 2024. The company's sponsor waived liquidation rights for its pre-IPO shares, and there will be no distributions for redeemable warrants. The last trading day for PEPL's securities on Nasdaq is expected to be February 7, 2024.
January 25, 2024 | 9:20 pm
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PepperLime Health Acquisition Corporation is liquidating and will distribute funds from the Trust Account to shareholders. The last trading day for PEPL's securities on Nasdaq will be February 7, 2024.
The announcement of liquidation typically leads to the cessation of trading of a company's securities and is a clear indicator of the end of the business's lifecycle. This news directly impacts PEPL's stock as it will no longer be traded after February 7, 2024, and thus, the stock price is likely to go down in the short term as the market reacts to the liquidation news.
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