NEW
YORK, Feb. 24, 2023 /PRNewswire/ -- ABG
Acquisition Corp. I (the "Company") (Nasdaq: ABGI), a special
purpose acquisition company, expects the redemption of its publicly
held Class A ordinary shares, par value $0.0001 (the "Public Shares"), to occur on
February 28, 2023. Net of taxes
and dissolution expenses, the per-share redemption price for the
Public Shares is expected to be approximately $10.188 (the "Redemption Amount").
The Redemption Amount will be payable to the holders of the
Public Shares upon delivery of their shares to the Company's
transfer agent, Continental Stock Transfer & Trust Company.
Beneficial owners of Public Shares held in "street name," however,
will not need to take any action in order to receive the Redemption
Amount.
The Company's sponsor and each of its officers and directors
have waived, with respect to the Company's Class B ordinary shares
and Class A ordinary shares issued in a private placement in
connection with the IPO held by it, her or him, as applicable, any
redemption rights it, she or he may have. After February 19, 2023, the Company ceased all
operations except for those required to wind up the Company's
business.
The Company expects that Nasdaq will file a Form 25 with the
U.S. Securities and Exchange Commission (the "Commission") in order
to delist the Company's securities. The Company thereafter expects
to file a Form 15 with the Commission to terminate the registration
of the Company's securities under the Securities Exchange Act of
1934, as amended.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
included in this press release are forward looking statements. When
used in this press release, words such as "may," "should," "could,"
"would," "anticipate," "seek," "believe," "estimate," "expect,"
"intend" and similar expressions, as they relate to the Company or
its management team, identify forward-looking statements. Such
statements include, but are not limited to, statements regarding
the Company's intention to redeem all of its outstanding Public
Shares, the Company's cash position or cash held in the Trust
Account, the Redemption Amount or the timing when the Company's
Public Shares will be redeemed. Such statements are based on the
beliefs of management, as well as assumptions made by, and
information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the SEC. All subsequent
written or oral forward-looking statements attributable to the
Company or persons acting on its behalf are qualified in their
entirety by this paragraph. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this press
release, except as required by law.
Contact
Kevin C. Reilly
Chief Financial Officer
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SOURCE ABG Acquisition Corp. I
