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Ross Acquisition Corp II - $ROSS STOCK NEWS

Welcome to our dedicated page for Ross Acquisition II news (Ticker: $ROSS), a resource for investors and traders seeking the latest updates and insights on Ross Acquisition II stock.

Ross Acquisition Corp II (NYSE: ROSS) is a special purpose acquisition company (SPAC) established to facilitate mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or other similar business combinations with one or more enterprises. Founded by Ross Holding Company LLC and affiliated with prominent figures such as Wilbur L. Ross, Stephen J. Toy, and Nadim Z. Qureshi, the company successfully completed its initial public offering (IPO) in March 2021.

Recently, on September 1, 2023, Ross Acquisition Corp II filed a definitive proxy statement to solicit proxies for an extraordinary general meeting to extend the deadline for consummating a business combination from September 16, 2023, to March 16, 2024. This proposal, known as the Extension Amendment Proposal, is crucial for the company's future operations. If this proposal is not approved, the company plans to cease operations, redeem all Class A ordinary shares sold during the IPO, and liquidate and dissolve the company.

The company’s primary objective is to capitalize on the extensive network and industry expertise of its sponsors to identify and merge with a high-potential business. The current focus is to secure shareholder approval for the Extension Amendment Proposal to ensure the company has ample time to complete its initial business combination. This strategic move could significantly impact shareholder value and the company’s future trajectory.

Ross Acquisition Corp II is committed to transparent and regular communication with its shareholders. The company encourages its shareholders and interested parties to read the definitive proxy statement and other documents filed with the SEC as these documents contain vital information. These can be accessed free of charge at www.sec.gov.

For more details, shareholders are advised to contact Ross Acquisition Corp II's representatives via the contact information provided at the company's official address in Palm Beach, Florida.

Rhea-AI Summary
Ross Acquisition Corp II (NYSE: ROSS) faces delisting from the New York Stock Exchange due to not completing an initial business combination within three years of its IPO. The company may appeal the decision but is also seeking to list its securities on the Nasdaq Stock Market. If delisted, the securities may trade on the over-the-counter market, leading to reduced liquidity and potential 'penny stock' classification. Shareholders have until September 16, 2024, to redeem their public shares.
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Ross Acquisition Corp II (NYSE: ROSS) announced the filing of a definitive proxy statement for an Extraordinary General Meeting to extend the date for a business combination. If the proposal is not approved, shareholders may face redemption or liquidation.
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Ross Acquisition Corp II shareholders approve extension of business combination deadline to March 16, 2024. Holders of 1,339,804 Class A shares redeem their shares for $10.74 per share, totaling $14.4 million. $54.2 million remains in trust.
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Ross Acquisition Corp II files definitive proxy statement for Extraordinary General Meeting to consider extending the date for business combination. If not approved, the company will cease operations and redeem Class A ordinary shares. No redemption rights or liquidating distributions for warrants. NYSE may delist securities if proposal not approved.
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Ross Acquisition Corp II (NYSE:ROSS) received a notice from NYSE stating non-compliance with filing quarterly report. Securities may be delisted if not regained in time.
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FAQ

What is Ross Acquisition Corp II?

Ross Acquisition Corp II is a special purpose acquisition company (SPAC) focused on merging with or acquiring one or more businesses.

When was Ross Acquisition Corp II's IPO?

Ross Acquisition Corp II completed its initial public offering (IPO) in March 2021.

What is the Extension Amendment Proposal?

The Extension Amendment Proposal seeks to extend the deadline for the company to complete a business combination from September 16, 2023, to March 16, 2024.

What happens if the Extension Amendment Proposal is not approved?

If not approved, the company will cease operations, redeem all Class A ordinary shares, and liquidate and dissolve.

How can shareholders participate in the upcoming extraordinary general meeting?

Shareholders can participate by reading the definitive proxy statement and other documents filed with the SEC, and by voting on the proposals.

Where can I find the definitive proxy statement?

The definitive proxy statement is available for free on the SEC's website at www.sec.gov.

Who are the sponsors of Ross Acquisition Corp II?

The sponsors include Ross Holding Company LLC and individuals like Wilbur L. Ross, Stephen J. Toy, and Nadim Z. Qureshi.

What are the risks associated with Ross Acquisition Corp II?

Risks include the potential of not completing a business combination in time, which could result in liquidation and delisting from NYSE.

How does Ross Acquisition Corp II plan to inform its shareholders?

The company is committed to transparent communication and encourages shareholders to read all relevant documents filed with the SEC.

What happens to the public shares if the company liquidates?

If liquidation occurs, public shares will be redeemed for their pro rata portion of the funds in the trust account, and shareholders' rights will be extinguished.

Ross Acquisition Corp II

NYSE:ROSS

ROSS Rankings

ROSS Stock Data

151.42M
5.04M
144.54%
Shell Companies
Financial Services
Link
United States
Palm Beach

About ROSS

ross acquisition corp ii is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.