New York, New York, July 12, 2022 (GLOBE NEWSWIRE) — Global Synergy Acquisition Corp. (the “Company”) (Nasdaq: GSAQ, GSAQU, GSAQW), a special purpose acquisition company, today announced that it will redeem all of its outstanding Class A ordinary shares, par value $0.0001 (the “Public Shares”), effective as of the close of business on July 26, 2022, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association (the “Articles”).
As stated in the Company’s Articles and in the Company’s registration statement on Form S-1 (Registration No. 333-251524), as amended, initially filed with the United States Securities and Exchange Commission (the “Commission”) on December 18, 2020, relating to the Company’s initial public offering (the “Form S-1”), if the Company is unable to complete an initial business combination within 18 months of the initial public offering, the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Company’s trust account (the “Trust Account”), including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its income taxes, if any…
