DGNU to liquidate due to failure to consummate business combination
Mar. 10, 2023 6:57 PM ETDragoneer Growth Opportunities Corp. III (DGNU)By: Ahmed Farhath, SA News Editor
- Dragoneer Growth Opportunities Corp III (NASDAQ:DGNU) said Friday it will not be able to consummate an initial business combination within the time period required by its amended and restated Memorandum and Articles of Association.
- The company intends to dissolve and liquidate in accordance with the provisions of its amended and restated Memorandum and Articles of Association.
- As part of the dissolution and liquidation, the company will redeem all of the outstanding Class A ordinary shares that were included in its IPO at redemption price of about $10.00.
- As of the close of business on March 24, 2023, the public shares will represent the right to receive the redemption amount.
- Upon redemption, the public shares will be deemed cancelled.
- Press Release.