Published: Jan. 25, 2024 at 5:19 p.m. ET
By Sabela Ojea
Northern Star Investment is liquidating its trust account after failing to consummate an initial business combination by its deadline, but it intends to continue operating.
The blank check company on Thursday said it will allow shareholders to continue to retain their shares so they can have the chance be part of “a transaction…
By Sabela Ojea
Northern Star Investment is liquidating its trust account after failing to consummate an initial business combination by its deadline, but it intends to continue operating.
The blank check company on Thursday said it will allow shareholders to continue to retain their shares so they can have the chance be part of “a transaction that the company may potentially enter into in the future” the company added.
“Allowing holders of public shares to retain their shares following the distribution is also expected to allow the company to continue to trade on the OTC Pink until such time as it consummates an acquisition or transaction,” the company said.
Northern Star Investment expects the liquidation amount to be about $10.48 per public share.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
