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
Barilla Opens Global Call for Startups Through Good Food Makers 202625.5.2026 12:47:00 EEST | Press release
Barilla Group has opened applications for the 2026 edition of Good Food Makers, its global open innovation program designed to co-develop and test new innovative solutions with startups and innovators inside real industrial environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521973445/en/ Since its launch in 2019, the program has involved more than 1,100 startups from over 50 countries, leading to 26 pilot projects, with over 20 projects currently active thanks to the solutions developed by the program’s alumni. This highlights the program’s role as a concrete platform for industrial scalable innovation. The 2026 edition comes at a pivotal moment for the company, following the launch of BITE (Barilla Innovation & Technology Experience), the new innovation center dedicated to developing the next generation of food products. Within this inspiring premise, Good Food Makers confirms itself as one of the main levers f
JEOL: Sales Launch of the Laser SEM System “LazEdge”25.5.2026 11:16:00 EEST | Press release
JEOL Ltd. (President & CEO: Izumi Oi) has developed the “LazEdge”, an SEM system equipped with a laser processing system, and begins sales on May 25, 2026. Cross-section preparation instruments such as the focused ion beam system (FIB system), are widely used in science and technology fields across research institutes, universities, and industries. In recent years, demand is increasing for a system that can process large-areas at a high speed, while achieving high-quality of the processed surface. “LazEdge” is an instrument integrating JEOL’s SEM with the laser technology proprietary of Hamamatsu Photonics K.K., and enables laser processing inside the specimen chamber of the electron microscope. This system enables high-quality cross-section specimens produced through high-speed, large-area processing to be transferred seamlessly to subsequent analyses, such as SEM observation, elemental analysis, and crystal orientation analysis, without exposure to the external environment. As a resu
TFG-001, A Novel 3D Neural Microtissue Cell Therapy, Demonstrates Superior Functionality and Reinnervation for Parkinson’s Disease25.5.2026 09:00:00 EEST | Press release
TreeFrog Therapeutics, a regenerative medicine biotech company developing next-generation cell therapies, today announced that it will present new preclinical data on TFG-001 at the 7th World Parkinson’s Conference. TFG-001, a 3D neural microtissue cell therapy, demonstrated rapid dopamine release and extensive graft-derived reinnervation across multiple advanced translational Parkinson’s disease models—supporting its potential as a best-in-class candidate. The critical need for reinnervation in Parkinson's disease In Parkinson's disease, an estimated 60–80% of dopaminergic neurons are already lost before motor symptoms even appear. The nigrostriatal pathway degenerates, destroying the essential wiring that connects dopamine-producing neurons to movement control. While chemical dopamine replacements (like levodopa) can manage symptoms, they cannot restore the spatial precision, feedback loops, or dynamic regulation of a healthy brain network. To achieve true functional restoration, it
TFG-001, A Novel 3D Neural Microtissue Cell Therapy, Demonstrates Superior Functionality and Reinnervation for Parkinson’s Disease25.5.2026 09:00:00 EEST | Press release
TreeFrog Therapeutics, a regenerative medicine biotech company developing next-generation cell therapies, today announced that it will present new preclinical data on TFG-001 at the 7th World Parkinson’s Conference. TFG-001, a 3D neural microtissue cell therapy, demonstrated rapid dopamine release and extensive graft-derived reinnervation across multiple advanced translational Parkinson’s disease models—supporting its potential as a best-in-class candidate. The critical need for reinnervation in Parkinson's disease In Parkinson's disease, an estimated 60–80% of dopaminergic neurons are already lost before motor symptoms even appear. The nigrostriatal pathway degenerates, destroying the essential wiring that connects dopamine-producing neurons to movement control. While chemical dopamine replacements (like levodopa) can manage symptoms, they cannot restore the spatial precision, feedback loops, or dynamic regulation of a healthy brain network. To achieve true functional restoration, it
Galderma Receives U.S. FDA Approval for Differin ® Epiduo ® Acne Gel Prescription-to-OTC Switch22.5.2026 19:25:00 EEST | Press release
Galderma (SIX: GALD), the pure-play dermatology category leader, today announced that the United States (U.S.) Food and Drug Administration (FDA) has approved Differin® Epiduo® Acne Gel (Adapalene 0.1% and Benzoyl Peroxide 2.5% Acne Treatment) for over-the-counter (OTC) use in ages 12 years and older, marking a significant Prescription-to-OTC transition in acne care. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260522074280/en/ The U.S. FDA approves Differin® Epiduo® Acne Gel Prescription-to-OTC switch This milestone represents yet another example of Galderma’s unique Integrated Dermatology strategy, demonstrating how proven innovations from its Therapeutic Dermatology portfolio can further strengthen its Dermatological Skincare offerings. The Prescription‑to‑OTC transition highlights Galderma’s scale and expertise in successfully commercializing dermatology innovations across the full spectrum of acne care. With the appro
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