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EdtechX Holdings Acquisition Co - EDTXU STOCK NEWS

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EdtechX Holdings Acquisition Corp. II, founded in 2020 and based in London, aims to merge, share exchange, or acquire businesses. Recently, the company started liquidating its trust account and redeeming its Class A ordinary shares.

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EdtechX Holdings Acquisition Corp. II is liquidating its trust account and redeeming Class A ordinary shares at a redemption price of $10.34 per share. Public shareholders can redeem their shares by delivering them to the transfer agent. Founder Shares, Private Warrants, and public warrants will not receive any proceeds from the trust account.
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EdtechX Holdings Acquisition Corp. II (NASDAQ: EDTX) announced it received a notification from the NASDAQ Listing Qualifications Department on March 8, 2023, regarding non-compliance with Listing Rule 5250(c)(1). The company failed to submit its Quarterly Report on Form 10-Q for the fiscal quarter ending December 31, 2022. EdtechX has until May 8, 2023, to submit a compliance plan, which could allow for an extension until August 14, 2023. The company is actively working to complete the Form 10-Q but faces risks of potential delisting if compliance is not achieved. This notification does not currently affect the listing status of its securities.

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EdtechX Holdings Acquisition Corp. II has announced a merger with zSpace, Inc., a leader in AR and VR technology for education, to create a publicly traded entity named zSpace Technologies, Inc.. The merger implies a pro forma enterprise value of $195 million, with $117 million in cash available for growth initiatives. zSpace serves over one million students annually, leveraging significant market potential in the educational AR/VR sector, projected to reach $12.6 billion by 2025. The merger is expected to close in Q4 2022, subject to regulatory approvals.

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EdtechX Holdings Acquisition Corp. II (NASDAQ: EDTX) faced a compliance issue with NASDAQ due to the failure to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021. The company received a notice on May 26, 2021, allowing until July 26, 2021, to submit a compliance plan. The delay arises from the increased demand for third-party accountants following an SEC statement on SPAC warrant accounting. Although there is no immediate impact on its listing, the company cannot guarantee compliance.

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EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) has successfully completed the sale of 1,500,000 additional units, part of its IPO, generating $15,000,000 in gross proceeds. Each unit, priced at $10.00, includes one share of Class A common stock and half a warrant, which allows the purchase of one share at $11.50. The units are traded on The Nasdaq Capital Market, and the Class A Common Stock and Warrants will soon be available under separate symbols. Jefferies LLC was the lead manager of this offering.

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On December 15, 2020, EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) announced the completion of its initial public offering (IPO) of 10 million units at $10.00 each, raising $100 million in gross proceeds. The units began trading on Nasdaq on December 11, 2020. Each unit consists of one share of Class A common stock and one-half of a redeemable warrant, with each full warrant allowing the purchase of one share of Class A common stock at $11.50. The underwriters received a 45-day option to purchase an additional 1.5 million units to cover over-allotments.

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EdtechX Holdings Acquisition Corp. II (Nasdaq: EDTXU) has priced its initial public offering at $10.00 per unit, totaling 10 million units. Trading will begin on December 11, 2020. Each unit comprises one share of Class A common stock and a half warrant, with each whole warrant allowing purchase of additional stock at $11.50. The offering has a 45-day option for underwriters to purchase an additional 1.5 million units. Jefferies LLC and Macquarie Capital manage the offering, expected to close around December 15, 2020.

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FAQ

What is the market cap of EdtechX Holdings Acquisition Co (EDTXU)?

The market cap of EdtechX Holdings Acquisition Co (EDTXU) is approximately 212.9M.

When was EdtechX Holdings Acquisition Corp. II founded?

EdtechX Holdings Acquisition Corp. II was founded in 2020.

Where is EdtechX Holdings Acquisition Corp. II based?

EdtechX Holdings Acquisition Corp. II is based in London, the United Kingdom.

What is the primary objective of EdtechX Holdings Acquisition Corp. II?

The company aims to effect mergers, share exchanges, asset acquisitions, or similar business combinations with other businesses or entities.

What recent action has EdtechX Holdings Acquisition Corp. II taken?

Recently, the company has initiated the process of liquidating its trust account and redeeming its Class A ordinary shares.

At what price will the Public Shares be redeemed?

All outstanding Public Shares will be redeemed at a per share redemption price of approximately $10.34 per Public Share.

What is the amended and restated certificate of incorporation of EdtechX Holdings Acquisition Corp. II?

The Charter specifies the process of redemption and liquidation of the Company’s trust account and Class A ordinary shares.

What type of businesses is EdtechX Holdings Acquisition Corp. II interested in merging with?

The company is interested in merging, acquiring, or collaborating with businesses or entities in various sectors.

What is the latest news about EdtechX Holdings Acquisition Corp. II?

The latest news involves the company's ongoing process of liquidating its trust account and redeeming its Class A ordinary shares.

Will the merger or acquisition involve multiple businesses/entities?

EdtechX Holdings Acquisition Corp. II intends to effect a business combination with one or more businesses or entities.

What is the significance of the share exchange process for EdtechX Holdings Acquisition Corp. II?

The share exchange process indicates the company's strategic financial decisions and growth objectives.

EdtechX Holdings Acquisition Co

Nasdaq:EDTXU

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EDTXU Stock Data

212.94M
11.50M
0.02%
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