By Denny Jacob

Far Peak Acquisition Corp. on Friday said it will redeem all its outstanding shares as of March 13 as it won't complete its business combination by March 7.

The blank check company said the per-share redemption price is expected to be about $10.21. It expects its last day of trading will be March 7 and that as of the open of trading on March 8 its shares will be suspended from trading and will represent only the right to receive the redemption amount.

Far Peak in July 2021 said it planned to combine with Bullish, which operates a regulated global cryptocurrency exchange for institutional and retail customers. The combination when first announced had a pro forma equity value at signing of about $9 billion at $10 a share and was expected to close by the end of 2021.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 24, 2023 17:03 ET (22:03 GMT)

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