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Belong Acquisition Corp. (NASDAQ: BLNGU) is a blank-check company focused on acquiring or merging with other businesses. Recently, the company announced its intention to dissolve and liquidate. All outstanding shares of Class A common stock will be redeemed, with a per-share Redemption Amount of approximately $10.23. The Company's sponsor has waived its redemption rights for its Class B common stock issued pre-IPO. The process of liquidation and disbursement of funds from the trust account is underway. The Company expects its securities to be delisted from Nasdaq and its registration terminated under the Securities Exchange Act of 1934. Shareholders will receive their pro rata portion of the trust account proceeds after trustee fees and dissolution expenses. The redemption process is anticipated to be completed within ten business days after July 27, 2023.
Belong Acquisition Corp. (NASDAQ:BLNG) has postponed its Special Meeting from December 7 to December 14, 2022. This meeting will include voting on key proposals: an amendment to extend the deadline for completing a business combination from January 27, 2023, to July 27, 2023, and an amendment regarding the liquidation of the trust account if the business combination is not completed by the extended date. The deadline for Class A common stockholders to submit shares for redemption has also been extended to December 12, 2022.
Belong Acquisition Corp. (NASDAQ:BLNGU) announced that its unit holders can begin trading Class A common shares and warrants separately starting September 13, 2021. Units that are not separated will continue to trade under the symbol 'BLNGU'. The Class A common shares and warrants will trade under 'BLNG' and 'BLNGW', respectively. A registration statement was declared effective by the SEC on July 22, 2021. This announcement is not an offer to sell or solicit purchases in jurisdictions where such actions are illegal without proper registration.
Belong Acquisition Corp. (NASDAQ:BLNGU) completed its IPO on July 27, 2021, raising $150 million by offering 15 million units at $10 each. Trading commenced on July 23, 2021, with each unit consisting of one share of Class A common stock and one-half warrant, convertible at $11.50 per share. The stock and warrants will trade separately under tickers BLNG and BLNGW, respectively. Wells Fargo Securities and Loop Capital Markets acted as joint book-runners. An additional 2.25 million units may be purchased by underwriters to cover overallotments.
Belong Acquisition Corp. (NASDAQ:BLNGU) announced the pricing of its initial public offering (IPO) of 15,000,000 units at $10.00 per unit, raising gross proceeds of $150 million. The units will start trading on the Nasdaq Capital Market on July 23, 2021. Each unit comprises one share of Class A common stock and one-half warrant, exercisable at $11.50 per share. The offering is set to close around July 27, 2021, subject to customary conditions. Wells Fargo Securities and Loop Capital Markets are the joint book-running managers. The SEC declared the registration statement effective on July 22, 2021.
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