GP Bullhound Acquisition I SE ("GP Bullhound Acquisition") announced today that it will not complete a business combination within the time period required by its articles of association. Accordingly, GP Bullhound Acquisition intends to redeem all of its outstanding class A shares (the "Public Shares") and thereafter will cease all operations except for those required to liquidate GP Bullhound Acquisition in accordance with its articles of association and Luxembourg law. Consequently, GP Bullhound Acquisition's board decided to cancel the extraordinary shareholders' meeting voting on the extension of the business combination deadline for GP Bullhound Acquisition.
The redemption price is currently expected to be around €10.25, subject to the preparation of a balance sheet as of the date of the expiry of the business combination deadline and other Luxembourg law requirements within the context of such liquidation.
Redemption of the Public Shares and disbursement of the respective redemption price will occur via the clearing system and is expected to occur as promptly as reasonably possible after expiry of the business combination deadline, which ends on May 3, 2023. GP Bullhound Acquisition currently expects that no further action will be required on behalf of the holders of Public Shares in order to receive the payment of the redemption price.
In connection with the liquidation of GP Bullhound Acquisition, all of the public warrants and founder warrants will expire worthless. More information about the liquidation of GP Bullhound Acquisition will published when available. In addition, GP Bullhound Acquisition will pursue delisting of the Public Shares and public warrants.
Further, in expectation of a business combination, GP Bullhound was preparing its annual report under the Luxembourg law of 11 January 2008 on transparency requirements for issuer. In light of the contemplated liquidation however, such report will need to be revised and GP Bullhound will prepare a revised annual report and proceed with its filing and publication under the relevant rules and regulations as soon possible.
Media Contacts
For media enquiries, please contact Rebecca Fitchett at Milltown Partners: rfitchett@milltownpartners.com
Important Notice
This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of GP Bullhound Acquisition I SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of GP Bullhound Acquisition I SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. GP Bullhound Acquisition I SE undertakes no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. GP Bullhound Acquisition I SE accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions. This announcement is related to the disclosure of information that may qualify or may have qualified as inside information within the meaning of Article 7 para. 1 of the Regulation (EU) No. 596/2014 on market abuse (Market Abuse Regulation).
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