By Vector Acquisition Corp. II, a special purpose acquisition company (SPAC), has announced that it will not pursue an initial business combination and will instead opt to redeem all of its outstanding public shares and initiate a liquidation process.
According to the SPAC, the redemption price per share for the public shares will be approximately $10.69. This comes as the stock closed at $10.64 in Friday’s trading session. The cancellation of public shares will take effect at the close of business on March 4, as confirmed by the company.
In February 2021, Vector Acquisition II had filed for an initial public offering with the intention of seeking a business merger partner in the technology and technology-enabled services sectors. Following an upsized IPO, the company’s shares began trading in March 2021.
It is worth noting that Vector Capital Management is the sponsor of Vector Acquisition II and is affiliated with the sponsors of Vector Acquisition Corp. III and Vector Acquisition Corp IV. The latter two withdrew their planned IPOs. The original Vector Acquisition Corp., on the other hand, successfully merged with Rocket Lab USA in August 2021.
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