NEW YORK: ION Acquisition Corp three Ltd. intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Memorandum and Articles of Association and can redeem all of the ordinary shares outstanding, at a per share redemption price of roughly $10.08.
ION Acquisition Corp three Ltd. is a clean check firm organized for the aim of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or different similar enterprise mixture with a number of companies or entities.
The Company introduced that, due to its anticipated inability to consummate an preliminary enterprise combination inside the time interval required by its Amended and Restated Memorandum and Articles of Association, the corporate will liquidate.
As of the shut of enterprise on November 17, 2022, the ordinary shares will be deemed cancelled and can represent solely the proper to obtain the redemption amount.
In order to present for the disbursement of funds from the belief account, the Company has instructed the trustee of the belief account to take all necessary actions to liquidate the belief account. The proceeds of the belief account will be held in a non-interest bearing account whereas awaiting disbursement to the holders of the ordinary shares.
Record holders may redeem their ordinary shares for his or her professional rata portion of the proceeds of the belief account by delivering their shares to Continental Stock Transfer & Trust Company, the Company’s switch agent. Beneficial owners of ordinary shares held in “street name,” however, will not want to take any motion so as to obtain the redemption amount. The redemption of the ordinary shares is anticipated to be accomplished by November 23, 2022.
Acquisition Corp three Ltd.’s preliminary stockholders have waived their redemption rights with respect to its excellent ordinary shares issued previous to the Company’s preliminary public offering.
The Company expects that the New York Stock Exchange will file a Form 25 with the United States Securities and Exchange Commission (the “SEC”) to delist its securities. The Company thereafter expects to file a Form 15 with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.