InterPrivate IV InfraTech Partners Inc. Announces it Will Redeem its Public Shares and Will Not Consummate an Initial Business Combination
11 April 2023 - 11:33PM
InterPrivate IV InfraTech Partners Inc. (Nasdaq: IPVIU, IPVI,
IPVIW) (the “Company”) announced today that it will redeem all of
its issued and outstanding shares of Class A common stock (the
“Public Shares”), because the Company’s sponsor has determined that
it will not make an additional contribution to the Company’s trust
account required in order to further extend the April 9, 2023
deadline under the Company’s Amended and Restated Certificate of
Incorporation (the “Charter”) for the Company to complete an
initial business combination. Following such redemption of the
Public Shares, the Company will liquidate and dissolve in
accordance with the provisions of the Charter.
The Company anticipates that the Public Shares
will cease trading at or around the close of business on April 12,
2023. The Redemption Amount is expected to be paid by April 25,
2023 to holders of Public Shares outstanding at the close of
business on April 12, 2023, without any required action on their
part. On the Redemption date, the Public Shares will be deemed
cancelled and will represent only the right to receive the
Redemption Amount. After April 25, 2023, the Company will cease all
operations except for those required to wind up the Company’s
business.
The Company’s warrants will expire in accordance
with their terms upon the liquidation of the Company.
The Company expects that The Nasdaq Stock Market
LLC will file a Form 25 with the Commission to delist its
securities. The Company thereafter expects to file a Form 15 with
the Commission to terminate the registration of its securities
under the Securities Exchange Act of 1934, as amended.
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of the federal
securities laws. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” “currently expects,” and
similar expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward looking
statements in this release. You should carefully consider these and
the other risks and uncertainties described in the Company’s Annual
Report on Form 10-K, Quarterly Reports on Form
10-Q and other documents filed by the Company with the
Commission. Those filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and the Company assumes no obligation
and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by law. The Company does not give
any assurance that the Company will achieve its expectations. The
inclusion of any statement in this press release does not
constitute an admission by the Company or any other person that the
events or circumstances described in such statement are
material.
Contact:
InterPrivate IV InfraTech Partners Inc. Brandon
Bentleylegal@interprivate.com212-647-0166
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