GEORGE TOWN, Cayman
Islands, April 28, 2023 /PRNewswire/
-- Anthemis Digital Acquisitions I Corp (NASDAQ: ADALU) (the
"Company") today announced that it will redeem all of its
outstanding Class A ordinary shares (the "Class A Shares"),
effective as of the close of business on May
3, 2023, because the Company will not consummate an initial
business combination by May 1, 2023,
the time period required by its amended and restated memorandum and
articles of association.
The per-share redemption price for the public shares will be
approximately $10.48 (the "Redemption
Amount"). In accordance with the terms of the related trust
agreement, the Company expects to retain $100,000 of the interest income from the trust
account to pay dissolution expenses.
The Company will voluntarily delist from the Nasdaq Global
Select Market prior to the date of redemption and anticipates that
the last day the public shares will trade is May 2, 2023. The Company expects that The Nasdaq
Global Select Market will file a Form 25 with the U.S. Securities
and Exchange Commission to delist its securities thereafter. As of
the close of business on May 3, 2023,
the public shares will be deemed cancelled and will represent only
the right to receive the Redemption Amount. The Company thereafter
expects to file a Form 15 with the Commission to terminate the
registration of its securities under the Securities Exchange Act of
1934, as amended. All Class A Shares are held in "street name" and
beneficial owners thereof 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. 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.
About Anthemis Digital Acquisitions I Corp
Anthemis Digital Acquisitions I Corp was formed for the purpose
of effecting a merger, capital exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses.
Forward-Looking Statements
This press release includes "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, including statements relating to the wind-up of the
Company and the redemption of its Class A Shares. When used in this
press release, the words "could," "should," "will," "may,"
"believe," "anticipate," "intend," "estimate," "expect," "project,"
the negative of such terms and other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements involve many risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such statements, including. These
forward-looking statements speak only as of the date hereof, and
the Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in its
expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statement is based.
Please refer to the Company's publicly filed documents, including
its most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q, for risks and uncertainties related to the Company which
may affect the statements made in this press release.
Contact: info@anthemisdigitalacquisitions.com
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SOURCE Anthemis Digital Acquisitions