Social Leverage Acquisition I (SLAC) has released an update.
Social Leverage Acquisition Corp I is set to wind up operations after failing to complete an initial business combination by the deadline. All public shares will be redeemed at an estimated price of $10.31 per share, with trading on Nasdaq ceasing on February 26, 2024. The company will dissolve post-redemption, and securities will be delisted and deregistered, rendering the warrants worthless. Founder shares will not be redeemed, and the dissolution process will prioritize creditors’ claims as per Delaware law.
For further insights into SLAC stock, check out TipRanks’ Stock Analysis page.