Catcha Investment Corp Announces Mandatory Unit Separation and Voluntary Delisting of Common Stock from NYSE, in Connection with Proposed Transfer of the Listing of its Class A Common Stock to NYSE American

Rhea-AI Summary

Catcha Investment Corp (NYSE: CHAA) announced that effective before the open on March 28, 2023, its units will mandatorily separate, ceasing to trade on the New York Stock Exchange. Unit holders will automatically receive shares of Class A common stock and redeemable warrants. Additionally, the Class A common stock will be voluntarily delisted from NYSE and begin trading on NYSE American on the same date. This transition is subject to NYSE American's authorization, expected around March 23, 2023, with no guarantees of approval.

Positive

• Mandatory separation allows unit holders to receive direct ownership of shares and warrants.
• Transition to NYSE American may provide better market conditions and visibility.

Negative

• Voluntary delisting from NYSE could affect liquidity and investor perception.

NEW YORK--(BUSINESS WIRE)-- Catcha Investment Corp (NYSE: CHAA) (the "Company"), announced today that effective before the open on March 28, 2023, the Company's units, which trade under the ticker symbol "CHAA.U" will be mandatorily separated and the units will no longer trade on the New York Stock Exchange after that date. This is a mandatory and automatic separation, and no action is required by the holders of the units. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant to purchase one share of Class A common stock. In the separation, unit holders will receive shares of Class A common stock and warrants underlying their units.

In addition, the Class A common stock, which trade under the ticker symbol "CHAA" will be voluntarily delisted from the New York Stock Exchange and will begin trading on NYSE American, effective March 28, 2023. The separation of the units and the voluntary delisting of the common stock is in connection with a proposed transfer of the listing of its Class A common stock from the New York Stock Exchange to NYSE American LLC ("NYSE American"), subject to authorization by NYSE American. The Company anticipates receiving such authorization on or around March 23, 2023, although there can be no assurances that any approval will be received, and further announcements will be made in due course.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230317005082/en/

Cedric Lee

Catcha Investment Corp

cedric@catchagroup.com

Source: Catcha Investment Corp

FAQ

What is the significance of the March 28, 2023 date for CHAA?

On March 28, 2023, CHAA's units will separate, and Class A common stock will be delisted from NYSE.

Will CHAA's stock still be available for trading after the delisting?

Yes, CHAA's Class A common stock will begin trading on NYSE American after the delisting.

What happens to CHAA unit holders on March 28, 2023?

Unit holders will automatically receive shares of Class A common stock and warrants upon separation.

When is CHAA expected to receive authorization from NYSE American?

CHAA anticipates receiving authorization around March 23, 2023.

What risks are associated with the transition to NYSE American for CHAA?

There is a risk of decreased liquidity and potential impacts on investor perception after delisting from NYSE.