Empowerment & Inclusion Capital I Corp. announced that, because the company is unable to consummate an initial business combination within the time period required by its amended charter, the company intends to dissolve and liquidate in accordance with the provisions of the amended charter prior to Dec. 31, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering at a per-share redemption price of approximately $10.09. As of the close of business Dec. 14, the public shares will be deemed cancelled and will represent only the right to receive the redemption amount. The company anticipates that the public shares will cease trading as of the close of business Dec. 13.
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