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NEW YORK, Dec. 4, 2023 (GLOBE NEWSWIRE) – Acropolis Infrastructure Acquisition Corp. (New York Inventory Alternate: ACRO) (the “Firm”), a publicly traded particular goal acquisition firm, introduced immediately that it’ll liquidate and dissolve the Firm in accordance with the provisions of the Firm’s amended and restated certificates of incorporation, as amended (the “Firm” of Incorporation”). Accordingly, the Firm will redeem all excellent Class A typical shares, par worth $0.0001 (the “public shares”), efficient December 19, 2023.
As indicated within the Certificates of Incorporation, if the Firm is unable to finish an preliminary enterprise mixture previous to July 13, 2024, or such earlier date as could also be decided by the Firm’s board of administrators (the “Board”) in its sole and unique discretion, absolute discretion, the Firm will: (i) stop all operations apart from liquidation functions; (ii) as quickly as moderately attainable, however not later than ten enterprise days thereafter, topic to funds legally obtainable to take action, redeem 100% of the general public shares in consideration of a value per share, payable in money, equal to the quotient obtained by dividing (A) the full quantity then deposited within the belief account, together with curiosity not beforehand launched to the Firm to pay its taxes (much less as much as $100,000 of such web curiosity to pay dissolution bills), by (B ) the full variety of then excellent public shares, the redemption of which is able to totally extinguish the rights of the holders of the general public shares (together with the suitable to obtain extra liquidating distributions, if relevant), topic to relevant legislation, and (iii ) as quickly as moderately practicable after such redemption, topic to the approval of the remaining shareholders of the Firm and the Board in accordance with relevant legislation, dissolve and liquidate, topic in every case to the obligations of the Firm below the Basic Company Legislation of the State of Delaware, as amended sometimes, to cowl creditor claims and different necessities of relevant legislation.
The redemption value per share for the general public shares will likely be roughly $10.49, much less quantities required to pay the Firm’s tax obligations (the “Redemption Quantity”). The belief account steadiness as of December 4, 2023 was roughly $84,040,779.58, which incorporates roughly $4,032,789.58 in curiosity revenue. Below the phrases of the associated belief indenture, the Firm expects to retain as much as $100,000 of curiosity revenue from the belief account to pay dissolution bills and quantities essential to pay the Firm’s tax obligations. Previous to the withdrawal of quantities required to pay the Firm’s tax obligations, a complete of roughly $83,940,779.58 is anticipated to be obtainable for redemption of the 8,000,799 public shares excellent.
The final day on which the Firm’s securities will likely be listed on the New York Inventory Alternate (“NYSE”) will likely be December 18, 2023. Efficient December 19, 2023, public shares will likely be deemed canceled and can characterize solely the suitable to obtain the ransom quantity.
Useful house owners of public shares held in road identify is not going to have to take any motion to obtain the Redemption Quantity.
There will likely be no redemption rights or liquidating distributions with respect to the Firm’s warrants, which is able to expire nugatory.
The Firm’s sponsor has waived its redemption rights with respect to the excellent founder shares and the shares underlying the non-public placement warrants. After December 19, 2023, the Firm will stop all operations besides these essential to liquidate the Firm’s enterprise.
The Firm expects the NYSE to file a Type 25 with the USA Securities and Alternate Fee (the “Fee”) to delist its securities. Thereafter, the Firm expects to file a Type 15 with the Fee to deregister its securities below the Securities Alternate Act of 1934, as amended.
About Acropolis Infrastructure Acquisition Corp.
The Firm is a particular goal acquisition firm fashioned for the aim of effecting a merger, consolidation, capital alternate, asset acquisition, inventory buy, reorganization or comparable enterprise mixture with a number of companies or entities. It was fashioned to pursue an preliminary enterprise mixture goal in infrastructure, infrastructure companies or a associated sector.
Ahead-looking statements
This press launch could embrace, and oral statements made sometimes by representatives of the Firm could embrace, “forward-looking statements” inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Alternate. Values. Act of 1934, as amended. Statements aside from statements of historic reality included on this press launch are forward-looking statements. When used on this press launch, phrases similar to “anticipate”, “consider”, “proceed”, “may”, “estimate”, “anticipate”, “intend”, “may”, “plan”, “attainable” , “potential”, “predict”, “challenge”, “ought to”, “would” and comparable expressions, as they relate to the Firm or its administration workforce, determine forward-looking statements. Such forward-looking statements are based mostly on administration’s beliefs, in addition to assumptions made by the Firm’s administration and knowledge at the moment obtainable to it. Precise outcomes may differ materially from these contemplated within the forward-looking statements because of sure components detailed within the Firm’s filings with the Fee. All subsequent written or oral forward-looking statements attributable to the Firm or individuals performing on its behalf are certified of their entirety by this paragraph. Ahead-looking statements are topic to quite a few situations, lots of that are past the management of the Firm, together with these set forth within the Threat Elements part of the Firm’s Annual Report on Type 10-Ok/A for the fiscal yr being ended on December 31. 2022, filed with the Fee on April 5, 2023. The Firm undertakes no obligation to replace these statements for revisions or adjustments after the date of this launch, besides as required by legislation.
Contacts
Acropolis Infrastructure Acquisition Corp.
For buyers, contact:
data@acropolisinfrastructure.com
For media inquiries please contact:
communications@apollo.com
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