Berenson Acquisition Corp. I Announces Liquidation; The Per-Share Redemption Price For The Class A Common Stock Of The Company Is Expected To Be ~$10.69
Portfolio Pulse from Benzinga Newsdesk
Berenson Acquisition Corp. I (NYSE:BACA) will liquidate as it will not complete its initial business combination by September 30, 2024. The liquidation process will begin on October 16, 2024, with a per-share redemption price of approximately $10.69. The company's securities will cease trading on September 27, 2024.
September 25, 2024 | 1:23 pm
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Berenson Acquisition Corp. I will liquidate as it cannot complete its business combination by the deadline. The per-share redemption price is set at ~$10.69, and trading will cease on September 27, 2024.
The announcement of liquidation indicates that BACA will not achieve its business goals, leading to the cessation of trading and a fixed redemption price. This is a negative development for investors as the company's operations will wind down, and the stock will no longer trade.
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