Colonnade Acquisition Corp. II Confirms Redemption of Shares at $10.23 Per Share
March 23 2023 - 5:52PM
Business Wire
Colonnade Acquisition Corp. II (NYSE: CLAA) (the “Company”)
confirms its previously announced redemption of all of its
outstanding Class A ordinary shares (the “Class A Shares”) will
occur on March 27, 2023.
The per-share redemption price for the public shares (the
“Redemption Amount”) is expected to be approximately $10.23. In
accordance with the terms of the Company’s trust agreement, the
Company will retain $100,000 of the interest and dividend income
from the Trust Account to pay dissolution expenses and there will
be no other deductions.
The Redemption Amount will be payable to the holders of the
Class A Shares upon presentation of their respective share or unit
certificates or other delivery of their shares or units to the
Company’s transfer agent, Continental Stock Transfer & Trust
Company. Beneficial owners of Class A Shares held in “street name,”
however, will not need to take any action in order to receive the
Redemption Amount.
There will be no redemption rights or liquidating distributions
with respect to the Company’s warrants. The Company’s initial
shareholders have waived their redemption rights with respect to
the outstanding Class B ordinary shares issued prior to the
Company’s initial public offering.
Forward Looking-Statements
This press release may include “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,
including, without limitation, the redemption of the Company’s
public shares. When used in this press release, words such as
“anticipate,” “believe,” “estimate,” “expect,” “intend” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking 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 us or
persons acting on our 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,
including those set forth in the Risk Factors section of the
Company’s latest Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q filed with the SEC. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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