Macondray Capital Acquisition Corp. I Announces it will Redeem its Public Shares and will not Consummate an Initial Business Combination

Dec 27, 2022

Macondray Capital Acquisition Corp. I (NASDAQ: DRAY) (the “Company”) announced today that, because the Company will not consummate an initial business combination within the time period required by its Second Amended and Restated Memorandum and Articles of Association (the “Amended Articles”), the Company intends to liquidate and dissolve in accordance with the provisions of the Amended Articles, effective as of the close of business on January 6, 2023, and will redeem all of the outstanding Class A ordinary shares that were included in the units issued in its initial public offering (the “Public Shares”), at an anticipated per-share redemption price of approximately $10.00.

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