Mon. Feb 6th, 2023

By Mary de Wet

Marlin Technology Corp. said Friday that it would redeem its public shares without a merger.

The blank-check company said the redemption price would be about $10.14, net of taxes and dissolution expenses. The stock closed at $10.13 was up 3.8% for the year.

The last day of trading in the shares will be Jan. 13, Marlin said.

When the company filed to list its shares in November 2020, Marlin said it was aiming to merge with a tech business.

On the last trading day of the year, Marlin is the latest special purpose acquisition company to call it quits. With few prospects for deals soon and a surprise tax bill looming next year, blank-check companies are closing at a rate of about four a day this month, nearly the same pace they were being launched when the sector peaked early last year, according to The Wall Street Journal.

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