Fortress Capital Acquisition Corp. Announces Redemption of Class A Ordinary Shares
04 Janvier 2023 - 11:00PM
Business Wire
Fortress Capital Acquisition Corp. (NYSE:FCAX) today announced
that its board of directors (the “Board”) has determined to redeem
all of its outstanding Class A ordinary shares (the “Class A
Shares”), effective as of January 18, 2023, because the Company
will not be able to consummate an initial business combination
within the time period required by its Amended and Restated
Memorandum and Articles of Association (the “Articles”).
Pursuant to the Articles, if the Company does not consummate an
initial business combination by January 15, 2023, the Company will:
(i) cease all operations except for the purpose of winding up, (ii)
as promptly as reasonably possible but not more than ten business
days thereafter, redeem 100% of the Class A Shares in consideration
of a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the trust account, including interest
earned on the funds held in the trust account and not previously
released to the Company (less taxes payable and up to US$100,000 of
interest to pay dissolution expenses), divided by the number of
then Class A Shares in issue, which redemption will completely
extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any),
and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of the Company’s remaining
shareholders and the Board liquidate and dissolve, subject in each
case to the Company’s obligations under Cayman Islands law to
provide for claims of creditors and other requirements of
applicable law.
Net of taxes and dissolution expenses, the estimated per-share
redemption price for the public shares is expected to be
approximately $10.14 (the “Redemption Amount”), based on funds held
in trust as of December 31, 2022.
The Company anticipates that the last day of trading in the
Company’s Class A Shares will be January 13, 2023, and that, as of
the open of business on January 18, 2023, the Class A Shares will
be deemed cancelled and will represent only the right to receive
the Redemption Amount.
The Redemption Amount will be payable to the holders of the
Class A Shares upon presentation of their respective share or unit
certificates or other delivery of their shares or units to the
Company’s transfer agent, Continental Stock Transfer & Trust
Company. Beneficial owners of Class A Shares held in “street name,”
however, will not need to take any action in order to receive the
Redemption Amount.
There will be no redemption rights or liquidating distributions
with respect to the Company’s warrants, which will expire
worthless. The Company’s initial shareholders have waived their
redemption rights with respect to the outstanding Class B ordinary
shares issued prior to the Company’s initial public offering.
The Company expects that The New York Stock Exchange will file a
Form 25 with the U.S. Securities and Exchange Commission to delist
its securities.
About Fortress Capital Acquisition Corp.
Fortress Capital Acquisition Corp. is a special purpose
acquisition company formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses.
Forward Looking Statements
Certain statements included in this press release are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that are not
historical facts, and involve risks and uncertainties that could
cause actual results to differ materially from those expected and
projected. Words such as “expect,” “believe,” “anticipate,”
“intend,” “estimate,” “seek,” “future,” “project,” “anticipate” and
variations and similar words and expressions are intended to
identify such forward-looking statements. Such forward-looking
statements relate to future events or future performance, but
reflect management’s current beliefs, based on information
currently available. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements. For information identifying important factors and risks
that could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
Company’s Form S-1 relating to its initial public offering, Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other
documents the Company has filed with the SEC, as amended from time
to time. Copies of such filings are available on the SEC’s website,
www.sec.gov.
Forward-looking statements speak only as of the date they are
made, and the Company assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required by law. Nothing in this press release should be regarded
as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward-looking statements will be
achieved. The inclusion of any statement in this press release does
not constitute an admission by the Company or any other person that
the events or circumstances described in such statements are
material.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221230005170/en/
For more information: infofcax@fortress.com 1345 Avenue
of the Americas 45th Floor New York, New York 10105 (212)
817-3535
Fortress Capital Acquisi... (NYSE:FCAX)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Fortress Capital Acquisi... (NYSE:FCAX)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024