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Belong Acquisition Corp. (NASDAQ: BLNG), a blank-check company focused on acquiring or merging with businesses, is set to dissolve and liquidate due to not consummating an initial business combination within the required timeline. As of July 27, 2023, all outstanding shares of Class A common stock will be redeemed, with a per-share Redemption Amount of approximately $10.23. The company will delist from Nasdaq and terminate SEC registration post liquidation.
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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