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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.
Kadem Sustainable Impact Corporation has announced that starting May 7, 2021, holders of units sold in its initial public offering can separately trade shares of Class A common stock and warrants. The shares will trade on Nasdaq under the symbols 'KSI' for common stock and 'KSICW' for warrants. Units that remain unsplit will continue to trade under the symbol 'KSICU.' Note that no fractional warrants will be issued upon separation. The press release also serves as a disclaimer, stating it does not constitute an offer to sell or solicitation of securities.
Kadem Sustainable Impact Corporation (NASDAQ: KSICU) has successfully closed its initial public offering, raising $175 million from 17,500,000 units priced at $10.00 each. Each unit consists of one share of Class A common stock and one-half of a warrant, with full warrants exercisable at $11.50 per share. The Company is focused on merging with businesses in the electric vehicle and energy sectors. The units began trading on the Nasdaq Capital Market on March 17, 2021.
Kadem Sustainable Impact Corporation has priced its initial public offering (IPO) at $10.00 per unit, totaling 17,500,000 units. Each unit includes one share of Class A common stock and one-half warrant, with each whole warrant allowing the purchase of one additional share at $11.50. The IPO is set to close on March 19, 2021, with trading expected on Nasdaq under the ticker 'KSICU' from March 17, 2021. The company aims to pursue business combinations in the electric vehicle and energy sectors, with BMO Capital Markets managing the offering.
