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Beard Energy Transition Acquisition Corp. (NYSE: BRD) was a special purpose acquisition company focused on the energy transition sector that has been liquidated. The company ceased operations and completed its dissolution in December 2023 following the termination of its planned merger with Suntuity Renewables.
During its operational period from late 2021 to late 2023, the SPAC pursued acquisition opportunities in businesses supporting the transition to renewable energy and sustainable infrastructure. After entering into a definitive merger agreement with residential solar developer Suntuity Renewables, both parties ultimately decided to terminate the combination, leading to the SPAC's liquidation.
News and developments related to BRD primarily centered on its SPAC lifecycle events, including its initial public offering, the announcement and extension of the Suntuity merger timeline, shareholder votes on deadline extensions, the termination of the business combination, and the subsequent liquidation process. All Class A common shareholders received redemption proceeds of approximately $10.74 per share when the company dissolved.
As a liquidated entity, Beard Energy Transition Acquisition Corp. is no longer generating news or operational updates. The company's dissolution marked the conclusion of its brief existence as a publicly traded special purpose acquisition company in the energy transition sector.
Beard Energy Transition Acquisition Corp. (NYSE: BRD, BRD.U, BRD.WS) has cancelled its special meeting of stockholders that was set for February 1, 2023. This decision also withdraws the proposals listed in the Definitive Proxy Statement filed on January 11, 2023. Consequently, BRD will not redeem any shares of Class A common stock previously elected for redemption, and these shares will be returned to stockholders. The company is committed to identifying a target for its initial business combination before the May 29, 2023 deadline, extendable to August 29, 2023.
