NEW
YORK, Nov. 29, 2022 /PRNewswire/ -- Hudson
Executive Investment Corp. III (Nasdaq: HIII) ("HIII" or the
"Company") announced today that the Company's board of directors
has determined to dissolve and liquidate HIII in accordance with
its governing documents because it will not consummate an initial
business combination within the time period required by its Amended
and Restated Certificate of Incorporation. All outstanding shares
of common stock of the Company issued in connection with the
Company's initial public offering ("Public Shares") will be
redeemed at a per-share redemption price of approximately
$10.10, such redemption expected to
occur on December 21, 2022.
The Company has instructed Continental Stock Transfer &
Trust Company, the trustee of the Company's trust account and the
Company's transfer agent (the "Trustee"), to take all necessary
actions to immediately liquidate the Company's trust account for
disbursement to the holders of Public Shares ("Holders"). Holders
are eligible to receive their pro rata portion of the
proceeds of the trust account, net of any amounts withdrawn by the
Company to pay taxes or dissolution expenses in accordance with the
Company's governing documents, by delivering Public Shares to the
Trustee for redemption (the "Redemption"). However, Holders who own
Public Shares in "street name" will not need to take any action in
order to participate in the Redemption.
There will be no redemption rights or liquidating distributions
with respect to the Company's warrants.
The Company expects that The NASDAQ Stock Market will file a
Form 25 with the U.S. Securities and Exchange Commission (the
"Commission") to delist its securities. The Company thereafter
expects to file a Form 15 with the Commission to terminate
registration of its securities under the Securities Exchange Act of
1934, as amended.
About the Company
HIII is a blank check company formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization, or similar business combination
with one or more businesses.
Forward-Looking Statements
This press release, and oral statements made from time to time
by representatives of the Company, may include "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements regarding possible business
combinations and the financing thereof, and related matters, as
well as all other statements other than statements of historical
fact included in this press release are forward-looking statements.
When used in this press release, words such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "plan," "possible," "potential," "predict,"
"project," "should," "would" and similar expressions, as they
relate to us or our management team, identify forward-looking
statements. Such forward-looking statements are based on the
beliefs of Company-management, as well as assumptions made by, and
information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the Securities and Exchange
Commission (the "SEC"). All subsequent written or oral
forward-looking statements attributable to the Company or persons
acting on the Company's behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
initial public offering and the Company's periodic reports and
current reports filed with the SEC. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
Contact:
Ira Mosberg
Chief Financial Officer
Hudson Executive Investment Corp. III
(646) 213-7095
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SOURCE Hudson Executive Investment Corp. III
