SPACS Altimeter Growth II, One Equity Partners Open Water I to liquidate early
SPACS Altimeter Growth II, One Equity Partners Open Water I to liquidate early
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SPACS Altimeter Growth Corp. II (AGCB) and One Equity Partners Open Water I (OEPW) plan to liquidate early due to their inability to secure suitable merger deals.
Dec. 02, 2022 5:55 PM ETAltimeter Growth Corp. 2 (AGCB), OEPWGRABBy: Val Kennedy, SA News Editor

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Altimeter Growth Corp. II (NYSE:AGCB), which raised $450M through an initial public offering in 2021, plans to liquidate early due to its inability to secure a suitable merger deal.

AGCB said in a statement that it has moved its termination date to Dec. 21. Shares will be redeemed at approximately $10.11 apiece.

The SPAC went public on Jan. 11, 2021, raising $450M. The blank check company was sponsored by affiliates of Silicon Valley VC firm Altimeter Capital Management.

ACGB's sister SPAC, Altimeter Growth Corp. I, merged with Southeast Asian fintech and delivery platform Grab (GRAB) in December 2021.

Also moving up its termination date was One Equity Partners Open Water Corp. I (NASDAQ:OEPW).

The SPAC now intends to cease trading on Dec. 8, over a month earlier than its previous deadline of Jan. 26. Shares will be redeemed for $10 per share.

OEPW, which was sponsored by affiliates of One Equity Partners, went public in late January 2021, raising $350M.

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