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PWP Forward Acquisition Corp. I (NASDAQ: FRW, FRWAU, FRWAW) filed a preliminary proxy statement to liquidate before December 31, 2022, due to the inability to complete a business combination by its March 12, 2023 deadline. Faced with adverse market conditions, including high SPAC redemption rates and reduced interest in public listings, the company aims to redeem approximately $10.03 per public share from the $212,873,704 in trust as of September 30, 2022. A special stockholder meeting will be convened for approval.
PWP Forward Acquisition Corp. I (Nasdaq: FRWAU) announced that starting April 30, 2021, holders of its IPO units can separately trade the shares of Class A common stock and redeemable warrants. The units, originally sold as part of a 21,163,433-unit offering on March 12, 2021, will continue to trade under the symbol 'FRWAU.' Separated shares and warrants will trade under 'FRW' and 'FRWAW,' respectively. The Company aims to enhance access to public financing for women-led businesses. Citigroup was the book-running manager for the offering.
