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Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced its intention to dissolve and liquidate due to an inability to complete a business combination as required by its Amended Charter. Effective December 8, 2022, the company will redeem all Class A common stock at approximately $10.12 per share. Shares will cancel post-December 16, 2022, with funds from the trust account being distributed to shareholders. The company’s sponsor waived its redemption rights for Class B common stock. No redemption rights will apply to warrants, which will expire worthless.
Sierra Lake Acquisition Corp. (Nasdaq: SIERU) announced that starting November 5, 2021, holders of its initial public offering units can separately trade their Class A common stock and warrants. A total of 30 million units were offered, and those not separated will continue to trade under the symbol SIERU. The shares and warrants will trade as SIER and SIERW, respectively. The transaction enables investors more flexibility in trading. The offering was underwritten by Cantor Fitzgerald, with effective registration by the SEC on September 14, 2021.
The Halifax Group has appointed Charles Alutto as an Operating Executive to evaluate investments and serve on the boards of select portfolio companies. Alutto, with over 30 years of experience, previously headed Stericycle, significantly growing its operations and leading its M&A strategy. His role at Halifax aims to enhance value creation strategies. Halifax focuses on lower middle-market businesses, investing in various sectors, including health and wellness. Founded in 1999, Halifax is headquartered in Washington, D.C.
Sierra Lake Acquisition Corp has successfully completed its initial public offering (IPO) of 30,000,000 units, priced at $10.00 each, raising $300 million. Trading under the ticker symbol SIERU began on September 15, 2021. Each unit consists of one share of Class A common stock and one-half of a warrant, enabling the purchase of a full share at $11.50. A total of $301,500,000 from the offering has been placed in the Company’s trust account. The offering was managed by Cantor Fitzgerald & Co., with an additional option for underwriters to purchase up to 4,500,000 units.
Sierra Lake Acquisition Corp. announced the pricing of its initial public offering (IPO) on September 14, 2021, raising $300 million by offering 30,000,000 units at $10.00 each. Trading on the Nasdaq under the symbol 'SIERU' will commence on September 15, 2021. Each unit consists of one share of Class A common stock and one-half of a warrant, with each whole warrant allowing purchase of a share at $11.50. The offering may close on September 17, 2021, pending customary conditions. The company has not targeted any specific business for acquisition yet.
