bleuacacia ltd Announces Liquidation
bleuacacia has announced its liquidation due to failure to complete an initial business combination within the required timeframe. The company will dissolve effective November 22, 2024, and will redeem all outstanding public shares at approximately $11.10 per share. The redemption process is expected to complete within ten business days after November 22, 2024. While holders of founder shares have waived their redemption rights, the company's warrants and rights will expire worthless. The trust account proceeds will be held in a non-interest bearing account awaiting disbursement to shareholders.
bleuacacia ha annunciato la sua liquidazione a causa del mancato completamento di una combinazione aziendale iniziale entro il termine stabilito. La società sarà sciolta a partire dal 22 novembre 2024 e procederà al rimborso di tutte le azioni pubbliche in circolazione a circa $11.10 per azione. Si prevede che il processo di rimborso si completi entro dieci giorni lavorativi dopo il 22 novembre 2024. Mentre i detentori di azioni fondatrici hanno rinunciato ai loro diritti di rimborso, i warrant e i diritti della società scadranno senza valore. I fondi del conto fiduciario saranno mantenuti in un conto senza interessi in attesa della distribuzione agli azionisti.
bleuacacia ha anunciado su liquidación debido a la falta de completar una combinación empresarial inicial dentro del plazo requerido. La empresa se disolverá a partir del 22 de noviembre de 2024 y reembolsará todas las acciones públicas emitidas a aproximadamente $11.10 por acción. Se espera que el proceso de reembolso se complete en un plazo de diez días hábiles después del 22 de noviembre de 2024. Mientras que los titulares de acciones fundadoras han renunciado a sus derechos de reembolso, los warrants y derechos de la empresa vencerán sin valor. Los fondos de la cuenta fiduciaria se mantendrán en una cuenta sin intereses a la espera de su distribución a los accionistas.
bleuacacia 는 요구된 기한 내에 초기 사업 결합을 완료하지 못해 청산을 발표했습니다. 이 회사는 2024년 11월 22일부터 해산되며, 모든 공개 주식을 약 $11.10 per 주식의 가격으로 환매할 것입니다. 환매 프로세스는 2024년 11월 22일 이후 10영업일 이내에 완료될 것으로 예상됩니다. 설립자 주식 보유자는 환매 권리를 포기했지만, 회사의 워런트 및 권리는 가치 없이 만료될 것입니다. 신탁 계좌의 수익금은 주주에게 분배될 때까지 이자가 없는 계좌에 보관됩니다.
bleuacacia a annoncé sa liquidation en raison de l'échec à finaliser une combinaison d'affaires initiale dans le délai imparti. La société sera dissoute à compter du 22 novembre 2024 et va racheter toutes les actions publiques en circulation à environ $11.10 par action. Le processus de rachat devrait être finalisé dans les dix jours ouvrables suivant le 22 novembre 2024. Bien que les détenteurs d'actions fondatrices aient renoncé à leurs droits de rachat, les bons de souscription et droits de la société expireront sans valeur. Les fonds du compte fiduciaire seront conservés sur un compte non rémunéré dans l'attente de leur distribution aux actionnaires.
bleuacacia hat seine Liquidation aufgrund der Nichterfüllung einer anfänglichen Unternehmenszusammenschluss innerhalb des geforderten Zeitrahmens angekündigt. Das Unternehmen wird am 22. November 2024 aufgelöst und wird alle ausstehenden öffentlichen Aktien zu einem Preis von etwa $11.10 pro Aktie zurückkaufen. Der Rückkaufsprozess wird voraussichtlich innerhalb von zehn Geschäftstagen nach dem 22. November 2024 abgeschlossen sein. Während die Inhaber von Gründeraktien auf ihr Rückkaufsrecht verzichtet haben, werden die Warrants und Rechte des Unternehmens wertlos verfallen. Die Gelder des Treuhandkontos werden auf einem nicht verzinslichen Konto gehalten, bis sie an die Aktionäre ausgeschüttet werden.
- Public shareholders will receive approximately $11.10 per share in redemption
- Company is liquidating due to failure to complete business combination
- Warrants and rights will expire worthless
- Trust account funds will be moved to non-interest bearing account
- Company will be delisted from Nasdaq
Insights
The SPAC liquidation of bleuacacia represents another casualty in the challenging SPAC market environment. Shareholders will receive
The worthless expiration of warrants and rights highlights the binary nature of SPAC investments. This outcome reflects broader market challenges, including increased regulatory scrutiny, market volatility and difficulty finding attractive merger targets. For the SPAC sector, this liquidation adds to a growing trend of SPACs returning capital rather than completing deals, signaling continued headwinds for blank-check companies.
New York, NY, Nov. 21, 2024 (GLOBE NEWSWIRE) -- bleuacacia ltd (the “Company”) (Nasdaq: BLEU), announced today that, due to its inability to complete an initial business combination within the time period required by its amended and restated memorandum and articles of association, as amended, the Company intends to liquidate and dissolve, effective as of the close of business on November 22, 2024, and will redeem all of the outstanding ordinary shares that were included in the units issued to public shareholders in its initial public offering (the “Public Shares”), at a per-share redemption price of approximately
As of the close of business on November 22, 2024, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.
In order to provide for the disbursement of funds from the trust account, the Company will instruct the trustee of the trust account to take all necessary actions to liquidate the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after November 22, 2024.
The Company’s holders of founder shares have agreed to waive their redemption rights with respect to such shares. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants and rights, which will expire worthless.
The Company expects to file a Form 15 with the United States Securities and Exchange Commission (the “SEC”) to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended, within ten days of the filing of a Form 25.
About bleuacacia ltd
bleuacacia ltd is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
bleuacacia ltd
info@acacia.blue
FAQ
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