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On January 25, 2023, G Squared Ascend I (NYSE: GSQDU, GSQD) announced the redemption of all outstanding Class A ordinary shares, effective February 9, 2023, due to the failure to complete an initial business combination. Operations will cease, with a per-share redemption price of approximately $10.18, based on funds in the trust account totaling $351.2 million. Shareholders must present their stock certificates to receive the redemption amount, while warrants will expire worthless. The company plans to delist from the New York Stock Exchange and file a Form 15 to terminate security registration.
G Squared Ascend I (NYSE: GSQD.U, GSQD, GSQD.W) announced it will redeem all outstanding Class A ordinary shares as of February 9, 2023, due to failure to complete an initial business combination. The per-share redemption price will be approximately $10.18, based on a Trust Account balance of around $351 million as of January 23, 2023. The Company will cease operations post-redemption, except for winding up, and expects to file for delisting with the U.S. SEC. No redemption rights will apply to warrants, which will expire worthless. The sponsor has waived redemption rights for Class B shares.
Transfix has announced a definitive business combination agreement with G Squared Ascend I (GSQD) to accelerate its growth in the freight logistics sector. The merger, expected to close in Q1 2022, implies a pro forma enterprise value of $1.1 billion. Transfix's revenues surged over 40% from $130 million in 2019 to $184 million in 2020. The transaction provides up to $405 million in gross cash proceeds, with $375 million available post-transaction for growth initiatives. Transfix will be publicly listed under the ticker 'TF' on the NYSE.
G Squared Ascend I Inc. (NYSE: GSQD.U) announced that trading of its common stock and warrants will begin separately on March 26, 2021. The common stock will trade under the symbol 'GSQD' and the warrants under 'GSQD.W'. Units that remain unseparated will continue to trade under 'GSQD.U'. As a newly formed blank check company, G Squared Ascend I plans to focus its business combination efforts within the technology sector, specifically targeting six core verticals: Software-as-a-Service, Online Marketplaces, Mobility 2.0/Logistics, Fintech/Insurtech, New Age Media, and Sustainability.
