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Atlantic Coastal Acquisition Corp. Will Redeem Its Public Shares And Will Not Consummate An Initial Business Combination; Per-Share Redemption Price For The Public Shares Will Be ~$10.40

Benzinga ·  Aug 19, 2023 04:20

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) (the "Company"), a special purpose acquisition corporation, today announced that it will redeem all of its outstanding shares of Class A common stock (the "public shares"), effective as of August 18, 2023, because the Company will not consummate an initial business combination within the time period required by its Second Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation").

As stated in the Company's Certificate of Incorporation, if the Company is unable to complete an initial business combination by June 8, 2023 (subject to certain inapplicable exceptions), the Company will:

  • cease all...
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