Novo Tellus Alpha Acquisition (NTAA) will pay a S$5.1839071 redemption price per Class-A share, the special-purpose acquisition company (Spac) said on Friday (Feb 2).

The payment of the redemption amount, which will be rounded down to S$5.18, will be made on Feb 21 or around that date, after the record date on Feb 13.

The counter will be suspended from trading from Feb 9. It will then be delisted from the Singapore Exchange (SGX) from 9 am on Feb 22.

The Spac, which is backed by industrial technology buyout fund Novo Tellus Capital Partners, said on Jan 11 that it would not conclude a business combination, given the current market conditions.

It was one of three Spacs listed on the SGX in January 2022, alongside Pegasus Asia and Vertex Technology Acquisition Corporation (VTAC).

NTAA’s wind-up announcement came after Pegasus Asia said last December that it would also not conclude a business combination.

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VTAC was the only Spac that finished a de-Spac, after its business combination with live-streaming platform 17Live Group. The combined entity tumbled 18.8 per cent on its mainboard debut. 

NTAA : NTA 0%closed Friday 2 per cent or S$0.10 higher at S$5.15.