NEW YORK - Edify Acquisition Corp (NASDAQ: EAC), a special purpose acquisition company, announced Wednesday that it will dissolve and liquidate its assets following the termination of its business combination agreement with Unique Logistics International, Inc. (UNQL). The dissolution is set to occur promptly after Monday, March 12, 2024.
The company stated that it would redeem all outstanding public shares of common stock at an anticipated price of approximately $10.61 per share. Shareholders owning these public shares will have them cancelled as of the close of business on March 12, with the shares then only representing the right to receive the redemption price.
In preparation for the disbursement of funds, Edify Acquisition Corp has directed the trustee of its trust account to liquidate the securities held there. The proceeds will be placed in a non-interest bearing account to await distribution to the shareholders of the public shares.
Record holders must deliver their shares to the company's transfer agent, Continental Stock Transfer & Trust Company, to receive their proportionate share of the proceeds. Beneficial owners holding shares in "street name" will not need to take any action to receive their redemption price.
The company expects NASDAQ to file a Form 25 with the Securities and Exchange Commission (SEC) to delist the company's securities. Following that, Edify Acquisition Corp plans to file a Form 15 with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934.
This news is based on a press release statement, and readers should note that forward-looking statements involve risks and should not be relied upon unduly. Edify Acquisition Corp has not provided any further details on the reasons for the termination of the agreement with Unique Logistics International, Inc. or the subsequent plans following the liquidation.
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