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Recharge Acquisition Corp. announced its decision to liquidate, with redemption of Class A shares starting on October 5, 2022. The expected redemption price is approximately $10.12 per share, net of taxes and dissolution costs. Class A shares will cease trading on the same date, and holders will need to present their share certificates to receive their payments. Notably, warrants will not be eligible for redemption. The company also plans to delist its securities from Nasdaq, indicating a significant closure for investors.
Recharge Acquisition Corp. (NASDAQ:RCHG) announced its plan to dissolve and liquidate due to the inability to complete a business combination by the deadline set in its Amended Charter. Effective October 5, 2022, the company will redeem all Class A common stock shares at approximately $10.12 per share. Shareholders will receive their shares' redemption amounts by October 20, 2022. The sponsor has agreed to waive its redemption rights, while warrants will expire worthless. This decision follows a period of inactivity regarding mergers or acquisitions.
Recharge Acquisition Corp. (NASDAQ: RCHG) announced it received a notice from Nasdaq for failing to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The company cited its inability to comply with timely filing criteria due to necessary accounting adjustments concerning outstanding warrants. Recharge has a 60-day period from May 28, 2021, to regain compliance by filing the Form 10-Q. If not filed within this timeframe, Nasdaq could commence delisting procedures. The company is committed to completing the filing as soon as possible.
Recharge Acquisition Corp. (Nasdaq: RCHGU) has announced that starting on November 23, 2020, shareholders can separately trade shares of its Class A common stock and associated warrants. A total of 20,040,000 units from the IPO will be affected, with Class A shares and warrants trading under symbols RCHG and RCHGW, respectively. Units not separated will continue trading as RCHGU. This change follows the SEC's approval of their registration statement on September 30, 2020. Recharge Acquisition Corp. aims to focus on the convenience store sector for potential business combinations.
Recharge Acquisition Corp. (NASDAQ: RCHGU) closed its initial public offering (IPO) on October 5, 2020, raising $200 million by offering 20 million units priced at $10 each. A 45-day over-allotment option for an additional 3 million units was granted to underwriters. The units began trading on the Nasdaq under RCHGU on October 1, 2020, and consist of one Class A common stock share and one-half redeemable warrant. $202 million has been placed in the Company’s trust account to facilitate future business combinations, primarily targeting the convenience store industry.
Recharge Acquisition Corp. announced the pricing of its initial public offering (IPO) on September 30, 2020, of 20,000,000 units at $10.00 each. The units will trade on Nasdaq under the ticker symbol RCHGU starting October 1, 2020, with each unit comprising one share of Class A common stock and one-half of a redeemable warrant. The company, aiming for business combinations primarily in the convenience store industry, has granted underwriters a 45-day option for an additional 3,000,000 units. The SEC declared the registration statement effective on the same date.
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