AUSTIN,
Texas, Dec. 23, 2022 /PRNewswire/ -- Spindletop
Health Acquisition Corp. ("Spindletop" or the "Company")
(NASDAQ:SHCA) announced that in accordance with the announced
December 20, 2022 termination date
set by its Board of Directors pursuant to an amendment (the
"Charter Amendment") to its Amended and Restated Certificate of
Incorporation (the "Charter") which was filed with the Secretary of
State of the State of Delaware on
December 20, 2022, the Company
expects to redeem all outstanding public shares of the Company by
December 27, 2022, following which
the Company will be dissolved, liquidated and wound up.
The Company has also requested the Nasdaq Stock Market to
suspend trading of its Class A Common Stock, par value $0.0001 per share ("Class A Common Stock")
effective before the opening of trading on December 28, 2022 and file with the U.S.
Securities and Exchange Commission (the "SEC") the forms necessary
to delist the Company's Class A Common Stock.
Pursuant to the Charter, the public shares of Class A Common
Stock will be redeemed at a per-share price, payable in cash, equal
to the quotient obtained by dividing (A) the aggregate amount then
on deposit in the trust account, including interest (net of taxes
payable and $100,000 to pay
dissolution expenses, which have already been withdrawn) (the
"Redemption Amount"), by (B) the total number of then outstanding
public shares of Class A Common Stock. The redemption will
completely extinguish rights of holders of public shares of Class A
Common Stock.
Following the redemptions in connection with the approval and
implementation of the Charter Amendment and after taking into
account withdrawals for taxes and dissolution expenses, the total
amount held in the trust account was approximately $901,300.00, and a total of 90,130 public shares
of Class A Common Stock were outstanding. The Company estimates
that the total Redemption Amount will be approximately $901,300.00, and the per-share Redemption Amount
will be approximately $10.00.
Forward-Looking Statements
This press release includes certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended (the "Securities Act") and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") that are not
historical facts and involve risks and uncertainties that could
cause actual results to differ materially from those expected and
projected. All statements, other than statements of historical fact
included in this press release, including, without limitation,
regarding the early liquidation, de-listing of the Company's
Securities and Redemption Amount, are forward-looking statements.
Words such as "expect" and "intend" and variations and similar
words and expressions are intended to identify such forward-looking
statements. Such forward-looking statements relate to future events
or future performance, but reflect management's current beliefs,
based on information currently available. A number of factors could
cause actual events, performance or results to differ materially
from the events, performance and results discussed in the
forward-looking statements. For information identifying important
factors that could cause actual results to differ materially from
those anticipated in the forward-looking statements, please refer
to the publicly filed documents of the Company, including its most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q. The Company's securities filings can be accessed on the SEC's
website at www.sec.gov. Except as expressly required by applicable
securities law, the Company disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.
About Spindletop
Spindletop is a blank check company formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses.
Contact:
Spindletop Health Acquisition Corp.
512.961.4633
info@spindletophealth.com
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SOURCE Spindletop Health Acquisition Corp.