MIAMI, June 20,
2023 /PRNewswire/ -- On June
1, 2023, JAWS Hurricane Acquisition Corporation (Nasdaq:
HCNE) (the "Company") announced its board of directors (the
"Board") had determined to redeem all of its outstanding
shares of Class A common stock, par value $0.0001 per share, previously issued in the
Company's initial public offering (the "Public Shares").
As previously announced, the Company anticipates that the last
day of trading in the Public Shares will be June 15, 2023. On or about June 23, 2023, the Public Shares will be deemed
cancelled and will represent only the right to receive
the per-share redemption price for the Public Shares (the
"Redemption Amount"). Net of taxes and dissolution expenses,
the Redemption Amount is expected to be approximately $10.25.
The Redemption Amount will be payable to the holders of the
Public Shares upon presentation of their respective share or unit
certificates or other delivery of their shares or units to the
Company's transfer agent, Continental Stock Transfer & Trust
Company. Beneficial owners of Public Shares held in "street name,"
however, will not need to take any action in order to receive the
Redemption Amount.
There will be no redemption rights or liquidating distributions
with respect to the Company's warrants. The Company's initial
stockholder has waived its redemption rights with respect to the
Company's outstanding Class B common stock, par value $0.0001 per share, issued prior to the Company's
initial public offering. After June 15,
2023, the Company shall cease all operations except for
those required to wind up the Company's business.
The Company expects that the Nasdaq Stock Market LLC will file a
Form 25 with the Commission to delist its 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.
About JAWS Hurricane Acquisition Corporation
The Company is a blank check company incorporated in
Delaware for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses or entities.
Forward Looking-Statements
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All statements other than statements of
historical fact included in this press release are forward-looking
statements, including, without limitation, the redemption of the
Company's Public Shares. When used in this press release, words
such as "anticipate," "believe," "estimate," "expect," "intend" and
similar expressions, as they relate to us or our management team,
identify forward-looking statements. Such forward-looking
statements are based on the beliefs of management, as well as
assumptions made by, and information currently available to, the
Company's management. Actual results could differ materially from
those contemplated by the forward-looking statements as a result of
certain factors detailed in the Company's filings with the SEC. All
subsequent written or oral forward-looking statements attributable
to us or persons acting on our behalf are qualified in their
entirety by this paragraph. 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 latest Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q filed with the
SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
View original
content:https://www.prnewswire.com/news-releases/jaws-hurricane-acquisition-corporation-announces-approximate-redemption-amount-for-public-shares-301855514.html
SOURCE Jaws Hurricane Acquisition Corp.