ABG Acquisition Corp. I will Redeem its Publicly Held Class A Ordinary Shares

Provided By PR Newswire

Last update: Feb 14, 2023

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- ABG Acquisition Corp. I (the "Company") (Nasdaq: ABGI), a special purpose acquisition company, today announced that as of the close of business on February 21, 2023, the Company's publicly held Class A ordinary shares, par value $0.0001 (the "Public Shares"), will be deemed cancelled and will represent only the right to receive from the Company's trust account ("Trust Account") the per-share redemption price for the Public Shares to be announced at a later date (the "Redemption Amount"), 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 "Articles"). In accordance with the terms of the related trust agreement, the Company expects to retain interest income from the Trust Account to pay dissolution expenses, and taxes, if any.