Neutral
PRNewsWire
1 year ago
Accretion Acquisition Corp. Announces Cancellation of Annual Meeting and Redemption of Public Shares
DENVER , Dec. 18, 2023 /PRNewswire/ -- Accretion Acquisition Corp. (NASDAQ: ENER) (the "Company") today announced that its board of directors (the "Board") has determined not to proceed with a proposal to extend its corporate existence, as set forth in the Company's definitive proxy statement, filed with the U.S. Securities and Exchange Commission (the "SEC") on November 27, 2023. As such, the Board has determined to cancel the annual meeting of its stockholders, previously scheduled for December 19, 2023, and to redeem all of its outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), sold in its initial public offering (the "Public Shares"), effective on or about December 26, 2023, because the Company will not consummate an initial business combination transaction within the time period required by its amended and restated certificate of incorporation (as amended, the "Charter").
