AxonPrime Infrastructure Acquisition Corporation (the “Company”) today announced that it will not be able to consummate an initial business combination by August 17, 2023. Accordingly, promptly after August 17, 2023, the Company intends to liquidate in accordance with the provisions of its Second Amended and Restated Certificate of Incorporation.
On August 15, 2023, each unit then outstanding will be separated into one share of Class A Common Stock and one-third of a redeemable warrant to purchase shares of Class A Common Stock (the “Redeemable Warrants”). It is currently expected that record holders as of August 17, 2023 will receive their pro rata portion of funds (less taxes and up to $100,000 of interest to pay dissolution expenses) from the trust account of the Company (the “Trust Account”) on or about August 21, 2023. Beneficial owners of the shares of common stock held in “street name” will not need to take any action in order to receive the redemption amount. The Company’s sponsor waived its liquidation rights with respect to its outstanding common stock issued prior to the Company’s initial public offering. There will be no liquidating distributions with respect to the Company’s Redeemable Warrants.
The Company expects that the last day of trading of the Company’s shares of Class A Common Stock, Redeemable Warrants and units (collectively, the “Securities”) on the Nasdaq Stock Market LLC (“Nasdaq”) will be August 17, 2023.
