26 Capital Acquisition going into liquidation

26 Capital Acquisition will be unable to complete an initial business combination within the time period required by its Certificate of Incorporation due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order of specific performance in an action against certain of the parties to the Merger and Share Acquisition Agreement which 26 Capital entered into on October 15, 2021. Accordingly, the final $275K monthly installment to extend the Combination Period until October 20, 2023 will not be deposited into 26 Capital’s trust account and instead, 26 Capital intends to liquidate the Trust Account on September 21. 26 Capital intends to pursue all available remedies against the UEC Parties, including damages. 26 Capital will redeem all of the outstanding shares of common stock included in the units issued to public stockholders in its initial public offering at a per-share redemption price of approximately $10.95. As of the close of business on or about September 25, the Public Shares will be deemed cancelled and stockholders will have the right to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after September 28. 26 Capital’s sponsor has agreed to waive its redemption rights with respect to its founder shares. There will be no redemption rights or liquidating distributions with respect to 26 Capital’s warrants, which will expire. 26 Capital expects that Nasdaq will file a Form 25 with the SEC to delist 26 Capital’s securities.