Supernova Partners Acquisition Company III announced that it will redeem all of its outstanding Class A ordinary shares, par value $0.0001, effective as of the close of business on March 27, because the company will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association. The per-share redemption price for the public shares will be approximately $10.20. In accordance with the terms of the related trust agreement, the company expects to retain $100,000 of the interest income from the trust account to pay dissolution expenses. The company will voluntarily delist from the New York Stock Exchange prior to the date of redemption and anticipates that the last day the public shares will trade is March 17.
Published first on TheFly
