EdtechX Holdings Acquisition Corp II (EDTX)
Filed: 30 Aug 23, 5:45pm
Exhibit 99.1
EdtechX Holdings Acquisition Corp. II Announces Process and Timing of Liquidating Trust Account
London, England, August 30 2023 (GLOBE NEWSWIRE) – As previously disclosed, EdtechX Holdings Acquisition Corp. II (“EdtechX” or the “Company”) has commenced the process of liquidating the Company’s trust account established in connection with its initial public offering and redeeming the Company’s Class A ordinary shares issued in such offering (“Public Shares”), in accordance with the Company’s amended and restated certificate of incorporation (“Charter”). In accordance with the Charter, all outstanding Public Shares will be redeemed at a per share redemption price of approximately $10.34 per Public Share.
The Company commenced the liquidation of its trust account on August 15, 2023 and expects that the redemption of the Public Shares will occur on or about August 31, 2023. As of the close of business on such date, the Public Shares will be deemed cancelled and will represent only the right to receive redemption payments. The Company’s officers, directors and other stockholders who hold shares of the Company’s common stock (the “Founder Shares”) issued prior to the Company’s initial public offering, and the purchasers of warrants of the Company (“Private Warrants”) sold in the private placement that occurred simultaneously with the Company’s initial public offering, will not receive any proceeds from the Company’s trust account with respect to the Founder Shares or Private Warrants. The Company’s public warrants will expire worthless.
Record holders of Public Shares may redeem their shares 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” will not need to take any action in order to receive the redemption payments.
Cautionary Information About Forward-Looking Statements
This press release includes “forward-looking statements” as such term is defined in the Private Securities Litigation Reform Act of 1995. When used in this press release, words such as “anticipate,” “believe,” “expect,” “intend,” and similar expressions, as they relate to the Company, identify forward-looking statements, although not all forward-looking statements include such identifying words. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Actual events could differ materially from those contemplated by the forward-looking statements as a result of certain factors which may not be in the control of the Company. Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company has no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.
About EdtechX Holdings Acquisition Corp. II
EdtechX is a blank check company formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. On June 21, 2023, EdtechX terminated its definitive business combination agreement with zSpace Inc. and in August of 2023 commenced the process of liquidating the trust account and redeeming the Public Shares.
Company Contact
For further information, please contact:
EdtechX Holdings Acquisition Corp. II
22 Soho Square, London, WID 4NS, United Kingdom
(44) 207 070 7080