Gardiner Healthcare Acquisitions Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination
Ohio Pen/10246099

SHAKER HEIGHTS, Ohio ~ Gardiner Healthcare Acquisitions Corp. (GDNR) announced today that its directors have determined to dissolve and liquidate the company in accordance with the provisions of its Amended and Restated Certificate of Incorporation. As a result, all outstanding shares of common stock issued in the company's initial public offering will be redeemed at a per-share redemption price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares.

The company has instructed the Trustee of the Trust Account to take all necessary actions to liquidate the Trust Account. The proceeds of the Trust Account will be held in a non-interest bearing account while awaiting disbursement to holders of Public Shares. Holders may redeem their shares for their pro rata portion of the proceeds by delivering their Public Shares or units to Continental Stock Transfer & Trust Company (CST). Investors holding through a broker need not take any action in order to receive payment. The redemption is expected to be completed on or about December 18th, 2023.

More on Ohio Pen
At close of business on the business day prior to Redemption Date, trading in Public Shares will cease and each share held at that time will represent the right to receive redemption amount equal to pro rata portion of proceeds from Trust Account. There are no redemption rights or liquidating distributions with respect to Company's warrants. Initial shareholders, sponsors, officers and directors have waived their rights for liquidating distributions from Trust Account with respect private placement shares or founder shares they hold; however if they acquired any Public Shares or units after initial public offering they are entitled for such distributions from Trust Account.

Nasdaq is expected file Form 25 with United States Securities and Exchange Commission (SEC) for delisting Company's securities and thereafter Company expects file Form 15 with SEC for terminating registration under Securities Exchange Act 1934 as amended.

Gardiner Healthcare Acquisitions Corp., formed as special purpose acquisition company, was created for purpose effecting merger, share exchange, asset acquisitions, share purchase, reorganization or similar business combination with one or more businesses.
Filed Under: Business

Show All News | Report Violation


Latest on Ohio Pen