Hedosophia European Growth- Initiation of Redemption and Liquidation
3.5.2023 08:00:00 EEST | Business Wire | Press release
Hedosophia European Growth (the "Company") today announces that it will not conclude a Business Combination ahead of its Business Combination Deadline of 18 May 2023. To this end, the Company's board has unanimously resolved that it is in the Company's best interests to liquidate the Company and shall take all required steps for redemption and liquidation as soon as possible from the Business Combination Deadline.
In accordance with the Company's Prospectus, the Company will cease all operations from 18 May 2023, except for the purpose of winding up. As promptly as possible but not more than 10 Trading Days afterwards, the Company will redeem all Units and Ordinary Shares. Thereafter, as promptly as reasonably possible following such redemption the Company will liquidate and dissolve, subject to board and shareholder approval.
Holders of Units and Ordinary Shares will receive redemption proceeds from the Escrow Account through payment by the Listing Agent, which is currently estimated to be at least EUR 10 per Unit or Ordinary Share. The Sponsor Shares and Warrants will not receive any payment from the Escrow Account. The Warrants will expire worthless after the Business Combination Deadline.
The costs relating to the liquidation and dissolution of the Company are expected to be funded by the Sponsor Entity.
Indicative Timetable
The timetable below sets forth certain expected key dates for the redemption and liquidation:
|
Event |
Date |
|
Business Combination Deadline |
18 May 2023 |
|
Delisting of Units, Ordinary Shares and Warrants |
19 May 2023 (before trading hours) |
|
Expiration of Warrants |
19 May 2023 |
|
Record date for redemption of Units and Ordinary Shares |
22 May 2023 (after trading hours) |
|
Payment of redemption proceeds to holders of Units and Ordinary Shares |
23 May 2023 |
|
Redemption of Units and Ordinary Shares |
24 May 2023 |
|
Resolution by holders of Sponsor Shares approving the commencement of the voluntary liquidation and the appointment of voluntary liquidators |
25 May 2023 |
|
Final general meeting |
6 July 2023 |
|
Completion of the dissolution of the Company |
6 October 2023 |
About Hedosophia European Growth
The Company is a special purpose acquisition company that aimed to identify a unique investment opportunity within industries that were technology-enabled and benefited from strong underlying macro trends. The Company is sponsored by Hedosophia Group Limited, a global investor in leading technology companies.
The Company is registered with the Registrar of Companies under incorporation number 370531 and has its registered office in Grand Cayman, Cayman Islands.
More information about the Company, including the Company's initial public offering (the "IPO") prospectus dated 12 May 2021 (the "Prospectus"), which was approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, the "AFM"), can be found on the Company's website www.hedosophiaeuropeangrowth.eu.
Disclaimer
This announcement contains information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.
Capitalised terms used but not defined herein shall have the respective meanings given to them in the Prospectus.
This announcement may include forward-looking statements, which are based on the Company's current expectations and projections regarding a Business Combination or liquidation, the business, the economy and other future conditions of the Company and speak only as of the date hereof. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', "aims", "forecasts", "continues", ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as at the date at which they are made and the Company undertakes no obligation to update these forward-looking statements.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230503005256/en/
Contact information
Details for enquiries
Chris Sibbald
FGS Global
+44 (0)7855 955531
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
QI Tech and Ant International’s Bettr Partner to Expand Credit Access for E-Commerce Merchants and Consumers in Brazil26.6.2026 07:26:00 EEST | Press release
QI Tech, a leading financial services infrastructure provider, has joined forces with Bettr, a leading provider of inclusive and embedded financial services under Ant International, to expand credit solutions for e-commerce sellers and shoppers. The strategic partnership aligns with Brazil’s ongoing efforts to promote inclusive finance, launching targeted lending programs directly within digital marketplaces. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622444217/en/ Consumers can select BNPL option at checkout, facilitated by Bettr In its initial phase, QI Tech is collaborating with Bettr to provide working capital loans for small and medium-sized e-commerce businesses, allowing them to expand inventory and scale operations effectively. This partnership also includes a consumer-facing Buy Now, Pay Later (BNPL) option offered at the point of purchase, enabling shoppers on AliExpress to pay in installments. Both services
I-Pulse Signs Definitive Agreement with the U.S. Department of Commerce for $250 Million CHIPS R&D Award25.6.2026 21:53:00 EEST | Press release
I-Pulse Co-founders Robert Friedland, CEO, and Laurent Frescaline, CTO, announced today a definitive agreement with the U.S. Department of Commerce’s CHIPS Research and Development Office for a $250 million award for the further development of I-Pulse’s proprietary semiconductor and pulsed power technology. “With today’s announced investment, the Trump administration is strengthening America’s capabilities and enhancing its national and energy security goals,” said Secretary of Commerce, Howard Lutnick. Co-founder Robert Friedland said: “We are excited to partner with the U.S. government to advance our unique, American technology suite to benefit our great nation. This award supports the development of world-leading critical components in the pulsed power technology stack, with profound implications for energy security and national defense.” The CHIPS award strengthens U.S. supply chain resilience by boosting domestic semiconductor manufacturing and reducing reliance on foreign-made se
Burjeel Holdings Prices First MENA Healthcare Sukuk Since 2018, 3.2x Oversubscribed25.6.2026 20:31:00 EEST | Press release
Burjeel Holdings, a leading super-specialty healthcare group in the GCC listed on the Abu Dhabi Securities Exchange, priced its inaugural USD 500 million Regulation S 5-year senior unsecured Sukuk offering due 2031 under its newly established USD 1.5 billion Senior Unsecured Sukuk Programme. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260625449702/en/ Burjeel Holdings’ inaugural Sukuk was priced at a 7.000 % profit rate and a yield of 7.125% (Photo: AETOSWire) The offering attracted significant demand from high-quality international and regional investors, with the orderbook peaking at USD 1.6 billion, representing 3.2x oversubscription. The strength of the orderbook enabled Burjeel to tighten pricing from initial price thoughts in the mid-7% area, with the Sukuk priced at a 7.000% profit rate and a yield of 7.125%, representing the lowest 5-year yield by a GCC-based private non-investment grade corporate issuer since 202
Fossil Fuels Are a Thing of the Past; The Future Is Renewable: The Smarter E Europe Concludes With a Clear Message25.6.2026 20:03:00 EEST | Press release
Packed halls, a vibrant atmosphere and a buzzing vibe – after three days, The smarter E Europe 2026, Europe’s largest alliance of exhibitions for the energy industry, has come to a successful close. The event held at Messe München offered a glimpse of a future-oriented energy world powered by renewables. A strong signal with a clear message went out to the world from the Bavarian capital: The future is renewable. Renewable energies can help ensure a reliable, secure and cost-effective energy supply around the clock, seven days a week. A total of 2,650 exhibitors from 52 countries – many of whom had expanded their booth space compared with the previous year – demonstrated how this can work. More than 66 percent of exhibitors were from outside of Germany. They presented innovative and market-ready products ranging from virtual power plants, smart grid and load control, smart charging solutions, storage technologies and PV hybrid systems to digital platforms transparently and flexibly.The
HeyGen Doubles to $200M ARR in Eight Months on the Rise of Identity-First AI Video25.6.2026 19:02:00 EEST | Press release
HeyGen, the identity-first AI video platform, today announced it has surpassed $200 million in annual recurring revenue, doubling in eight months. The milestone reflects a rapid shift in how individuals, small businesses, and enterprises adopt AI video: as a scalable layer for human communication across languages, formats, and audiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260625305891/en/ HeyGen passes $200M in ARR HeyGen's community now spans more than 30 million users in 196 countries and 175+ languages & dialects, from solopreneurs creating professional social videos for the first time to 85% of the Fortune 100 — who together have created more than 118 million videos. That growth has come with rare capital efficiency: HeyGen generates roughly $2.70 in ARR for every dollar of equity capital raised, making it one of the most capital-efficient venture-backed AI companies in the world. "Crossing $200 million in AR
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom