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On November 29, 2022, stockholders of Sandbridge X2 Corp (NYSE: SBII) approved amendments to its charter allowing for the redemption of all outstanding Class A common stock before December 15, 2022. Following these approvals, 21,611,237 Public Shares were redeemed at approximately $10.09 per share, totaling around $218 million. With an inability to consummate a business combination by the new deadline, the company plans a Post-Amendment Redemption and liquidation, with plans to delist securities from the NYSE and terminate their registration with the SEC.
Sandbridge X2 Corp (NYSE: SBII) will hold a Special Meeting of Stockholders on November 29, 2022, to vote on a Charter Amendment Proposal and an Investment Management Trust Agreement amendment. If approved, this would enable the early redemption of outstanding Class A common stock by December 30, 2022. Shareholders can attend in person or vote by proxy. The estimated redemption price is around $10.09 per share. Shareholders are encouraged to review the definitive proxy statement filed with the SEC on October 31, 2022 for details.
Sandbridge X2 Corp. (NYSE: SBII.U) has received a notice from the NYSE regarding non-compliance with filing the Q1 2021 Form 10-Q due to a delay. The Company has six months from May 24, 2021, to file the report and regain compliance. This notice does not affect the trading or listing of its securities immediately. The delay is attributed to a reevaluation of its warrants following new SEC guidelines, necessitating an analysis to finalize the report. The Company is focused on potential mergers within the consumer sector.
Sandbridge X2 Corp. announced the pricing of its upsized IPO of 22,000,000 units at $10.00 per unit, targeting a listing on the NYSE under the symbol 'SBII.U' from March 10, 2021. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, allowing purchase of additional shares at $11.50. The offering aims at conducting mergers or acquisitions in the consumer sector. Closing is expected on March 12, 2021, subject to customary conditions.
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