Marlin Technology does not consolidate redemption shares

Mary De Witt

Marlin Technologies said Friday it will 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 costs. The stock closed at $10.13, up 3.8% for the year.

The last trading day for stocks is January 1. 13, Marin said.

When the company filed to go public in November 2020, Marin said its goal was to merge with a tech business.

On the last trading day of the year, Marlin was the latest special purpose acquisition company to announce its exit. With little prospect of near-term deals and next year’s surprise tax bill looming, blank-check companies are closing at a rate of about four a day this month, nearly as fast as the industry was at its peak early last year. Wall Street Journal.

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