Northern Star Investment II (NSTB) has released an update.
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Northern Star Investment Corp. II has announced that, since it will not achieve an initial business combination by the January 28, 2024 deadline, it will distribute the funds from its trust account to the holders of its Public Shares and expects its securities to be delisted from the NYSE American. The company intends to amend its Charter to allow shareholders to retain their shares post-distribution in the hope of participating in future business transactions, with the shares potentially continuing to trade on the OTC Pink. The anticipated liquidation distribution is approximately $10.48 per Public Share, with the company’s sponsor, officers, and directors waiving their rights to the distribution. The units from the IPO will separate into shares and warrants before the distribution, with no payment for the warrants, which will remain outstanding.
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