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Shelter Acquisition Corporation I (Nasdaq: SHQA) announced a stockholder meeting on December 21, 2022, where an amendment was approved to extend the deadline for completing a business combination to June 30, 2023. However, due to the anticipated inability to complete this process, the Board decided to liquidate and redeem all remaining Public Shares to avoid tax liabilities in 2023. The Mandatory Redemption is set for approximately December 27, 2022, with no rights for warrants post-liquidation. Nasdaq has been notified to suspend trading and delist the Securities.
Shelter Acquisition Corporation I has announced the pricing of its initial public offering (IPO) of 20 million units at $10.00 each, raising $200 million. The IPO will commence trading on the Nasdaq under the symbol 'SHQAU' on June 30, 2021. Each unit includes one share of Class A common stock and one-half of a redeemable warrant, with whole warrants allowing purchase of additional shares at $11.50 each. Citigroup and Wells Fargo Securities are joint book-running managers. The offering is expected to close on July 2, 2021, pending customary conditions.
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