: SPAC Resources Acquisition withdraws 0 million IPO filing #FinanceUSA #StockMarketNEWS Resources Acquisition Corp. filed Thursday to withdraw its previous filing for an initial public offering.
@stockMarketNEWS Fri 01 Jul, 2022
SPAC Resources Acquisition withdraws 0 million IPO filing #FinanceUSA #StockMarketNEWS
Resources Acquisition Corp. filed Thursday to withdraw its previous filing for an initial public offering. The special purpose acquisition company (SPAC) had filed in February to go public, as it looked to raise 0 million through the sale of 15.0 million "units" at a share, which each unit consisting of one common share and one-half of a warrant to buy a common share. The only reason the SPAC gave for the withdrawal was because it determined not to pursue an IPO. As part of the withdrawal, the SPAC requested that all fees paid to the Securities and Exchange Commission for the IPO filing be credited to its account. The withdrawal comes at a time of relative investor disdain for IPO'd stocks, as the Renaissance IPO ETF has plunged 35.1% over the past three months while the S&P 500 has dropped 18.7%.
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