As previously announced on
As a result, the Company will redeem all of the remaining outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the “Public Shares”), at a per-share redemption price of
As of the open of business on
In order to provide for the disbursement of funds from the trust account, the Company has instructed the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to
As previously stated, the Company’s sponsor has agreed to waive its redemption rights with respect to its outstanding shares of Class A common. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the
Investor Relations Contacts:
(949) 574-3860
Sg2@gateway-grp.com
or
Email: ir@seaportglobalacquisition.com
Source:
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