SHUAA Partners Acquisition Corp I - $shua STOCK NEWS

SHUAA Partners Acquisition Corp I (NASDAQ: SHUA) announces its inability to consummate an initial business combination and its intention to dissolve and liquidate in accordance with its Amended and Restated Memorandum and Articles of Association. As of November 17, 2023, the Class A ordinary shares will be deemed canceled, and each Public Share will represent the right to receive a redemption amount. The Company anticipates the last day of trading of the Public Shares and publicly traded units and warrants to be on or around November 16, 2023, with trading of Public Shares suspended effective before the opening of markets on November 17, 2023. The Company has instructed the trustee of the Trust Account to liquidate the securities held in the Trust Account for disbursement to the holders of the Public Shares. The redemption of the Public Shares is expected to be completed within 10 business days after November 17, 2023. There will be no redemption rights or liquidating distributions with respect to the Company's warrants. The Company's initial shareholders will not be entitled to liquidating distributions from the Trust Account, but if they have acquired Public Shares, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares. The Company expects Nasdaq to file a Form 25 with the SEC to delist the Company's securities, followed by a Form 15 to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.