Blank-check company Mallard Acquisition Corp. on Thursday said it would liquidate, citing its inability to start up a business within the period required by its certificate of incorporation.
Mallard said it would redeem all of the outstanding shares of common stock that were included in the units issued in its initial public offering at a per-share redemption price of about $10.10.
Mallard in October 2020 priced its IPO at $10 a unit. Shares closed Wednesday at $10.10.
The company said its securities won't continue to be listed on Nasdaq subsequent to the liquidation.
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