Avanti Acquisition Corp

Avanti Acquisition Corp. operates as a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, and reorganization. The company was founded on July 24, 2020 and is headquartered in George Town, Cayman Islands.

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NEW YORK , Oct. 6, 2022 /PRNewswire/ -- Avanti Acquisition Corp. (NYSE: AVAN) 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 October 20, 2022, because the Company will not 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 October 6, 2022, 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 the case of (ii) and (iii) above to the Company's obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.

Avanti Acquisition Corp. Announces Redemption of Class A Ordinary Shares

NEW YORK--(BUSINESS WIRE)--SEC Guidance Concerning Balance Sheet Treatment of Warrants, Avanti Acquisition Corp. Announces Receipt of NYSE Continued Listing Standard Notice

Stemming from SEC Guidance Concerning Balance Sheet Treatment of Warrants, Avanti Acquisition Corp. Announces Receipt of NYSE Continued Listing Standard Notice

News for Avanti Acquisition Corp Stock (AVAN)