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Kadem Sustainable Impact Corporation (NASDAQ: KSI, KSICU, KSICW) announced its decision to redeem all outstanding shares of Class A common stock, effective March 19, 2023. This decision comes as the company will not complete an initial business combination within the required timeframe outlined in its amended certificate of incorporation. The estimated redemption price is approximately $10.10 per share. The trust account's funds, including interest, will not be used to cover any excise tax imposed under the Inflation Reduction Act of 2022.
Kadem Sustainable Impact Corporation (NASDAQ: KSI, KSICU, KSICW) announced it will redeem all outstanding Class A common stock shares sold in its IPO, effective March 19, 2023. This decision follows the company's inability to complete a business combination by the March 18, 2023 deadline as outlined in its Charter. The redemption amount is approximately $10.05 per share, with shares ceasing to trade on March 17, 2023. The company plans to file a Form 25 to delist its securities and a Form 15 to terminate the registration of its securities under the Securities Exchange Act of 1934. Following redemption, Kadem will cease operations except for winding down its business.
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