By Dean Seal
Americas Technology Acquisition Corp. will liquidate itself after failing to achieve a merger with a company within its allotted time frame.
The special-purpose acquisition company said Tuesday that outstanding ordinary shares included in its offering will be canceled by the close of business on Saturday and open to redemption for about $10.59 apiece. The last traded share price was $10.52, according to FactSet.
The blank-check company said last week that it would no longer merge with Rally Communitas Corp. which operates a private-bus mobility marketplace.
Americas Technology had received extensions from its shareholders to allow it to consummate the business combination. The last extension ended June 17.
The redemption of Americas Technology's shares is expected to be completed within 10 business days after Saturday.
Write to Dean Seal at dean.seal@wsj.com
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