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Atlantic Avenue Acquisition Corp (NYSE: ASAQ.U, ASAQ, ASAQ WS) has canceled its special stockholders' meeting initially set for October 4, 2022. Due to the failure to complete a business combination within the required timeframe, the Company will dissolve and liquidate effective October 6, 2022, redeeming all outstanding Class A shares at approximately $10.03 each. The trust account's assets will be liquidated for shareholder disbursement, while Class B shares' redemption rights are waived. The Company will also delist its securities from the NYSE.
Atlantic Avenue Acquisition Corp (NYSE: ASAQ.U) plans to adjourn its special stockholder meeting originally scheduled for September 29, 2022, to discuss extending the time to complete a business combination. The meeting will now reconvene on October 4, 2022. Shareholders can redeem their Class A common stock for a pro rata share of the trust account funds until September 30, 2022. The announcement highlights the company's ongoing efforts to secure a merger or similar business combination while providing flexibility for stockholders.
