Blockchain Moon Acquisition Corp. Announces Liquidation
April 21 2023 - 9:00PM
Blockchain Moon Acquisition Corp. (the “Company”) announced today
that due to its inability to consummate an initial business
combination within the time period required by its amended and
restated certificate of incorporation (the “Articles”), the Company
intends to dissolve and liquidate in accordance with the provisions
of its Articles, and will redeem all of the outstanding common
stock that were included in the units issued in its initial public
offering (the “Public Shares”), at a per-share redemption price of
approximately $10.49.
As of the close of business on April 21, 2023, the Public Shares
will be deemed cancelled and will represent only the right to
receive the redemption amount. The Company anticipates that the
Public Shares, as well as the Company’s publicly traded units,
warrants and rights, will cease trading as of the close of business
on April 21, 2023.
In order to provide for the disbursement of funds from the trust
account, the Company will instruct the trustee of the trust account
to take all necessary actions to liquidate the securities held in
the trust account. The proceeds of the trust account will be held
in a non-interest bearing account while awaiting disbursement to
the holders of the Public Shares. Record holders will receive their
pro rata portion of the proceeds of the of the trust account by
delivering their Public Shares to Continental Stock Transfer &
Trust Company, the Company’s transfer agent. Beneficial owners of
Public Shares held in “street name,” however, will not need to take
any action in order to receive the redemption amount. The
redemption of the Public Shares is expected to be completed within
ten business days after April 21, 2023.
The Company’s sponsor, officers and directors have agreed to
waive their redemption rights with respect to their outstanding
common stock issued to them. There will be no redemption rights or
liquidating distributions with respect to the Company’s warrant or
rights, which will expire worthless.
The Company expects that the Nasdaq Stock Market LLC will file a
Form 25 with the United States Securities and Exchange Commission
(the “Commission”) to delist the Company’s securities. The Company
thereafter expects to file a Form 15 with the Commission to
terminate the registration of its securities under the Securities
Exchange Act of 1934, as amended.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains statements that constitute
“forward-looking statements.” Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the “Risk
Factors” section of the Company’s registration statement and
prospectus for the offering filed with the SEC. Copies are
available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Enzo Villani
CEO
Blockchain Moon Acquisition Corp
evillani(at)bmac.group
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