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Enterprise 4.0 Technology Acquisition Corp., a Cayman Islands exempted company, has announced its decision to dissolve and liquidate due to the inability to consummate an initial business combination. Despite shareholder approval for an extension, the company determined it could not deliver a high-quality transaction and will proceed with liquidation.
Headquartered in Palo Alto, California, the company aimed to complete a business combination by October 21, 2023. However, recent developments led to the decision to not further extend the completion term beyond July 21, 2023.
Enterprise 4.0 Technology Acquisition Corp. closed its upsized initial public offering of 30,000,000 units, yielding gross proceeds of $300,000,000. The units were priced at $10.00 each, with 3,900,000 units from the underwriter’s over-allotment. The trading commenced on Nasdaq under the ticker symbol 'ENTFU' on October 19, 2021. The company, focused on potential technology sector mergers and acquisitions, anticipates separating its units into Class A shares and warrants, with future trading symbols being 'ENTF' and 'ENTFW'.
Enterprise 4.0 Technology Acquisition Corp. announced the pricing of its initial public offering (IPO) of 26,100,000 units at $10.00 each, beginning trading on Nasdaq under the ticker symbol ENTFU on October 19, 2021. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant. The company aims to target businesses in the technology sector for potential mergers or acquisitions. Joint book-running managers for the offering are Cantor Fitzgerald & Co. and Mizuho Securities USA LLC, with an option for underwriters to purchase an additional 3,915,000 units.
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