GlobeNewswire Inc. · Apr 28, 2023
LAVA Medtech Acquisition Corp. Announces Liquidation
Waltham, MA, April 28, 2023 (GLOBE NEWSWIRE) -- LAVA Medtech Acquisition Corp. (NASDAQ: LVAC) (the “Company”) announced today that the board of directors of the Company (the “Board”) has elected to abandon and not implement the extension that was approved by stockholders on April 25, 2023, because despite significant efforts to identify and complete an initial business combination, the Board does not believe that the Company will be able to complete an initial business combination on favorable terms even with the extension. In making its decision, the Board has carefully considered the costs, benefits, and risks of prolonging the Company’s life, including the current adverse market conditions and increased regulatory uncertainty around SPACs.
