PepperLime Health Acquisition Corporation (the “Company”) (NASDAQ:PEPL) today announced that it was not able to consummate an initial business combination by January 19, 2024, and pursuant to its Amended and Restated Memorandum and Articles of Association, the Company intends to liquidate promptly.
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It is currently expected that record holders as of February 7, 2024, 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 February 8, 2024. Beneficial owners of the Company’s ordinary shares 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 ordinary shares 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 Class A ordinary shares, redeemable warrants and units (collectively, the “Securities”) on the Nasdaq Stock Market LLC (“Nasdaq”) will be February 7, 2024.
