Thu, Jun 27, 8:11 PM (116 days ago)
Spree Acquisition Corp. 1 Limited, a blank check company, reported no revenue for the fiscal year ended December 31, 2023. The company focused on extending its deadline to complete an initial business combination, with shareholder approvals extending the deadline first to March 20, 2024, and then to December 20, 2024. Significant redemptions reduced the trust account balance from $204 million to $20.4 million. The company terminated its WHC Business Combination Agreement in August 2023. Spree's securities were delisted from NYSE in March 2024 due to non-compliance with the market capitalization requirement, affecting liquidity and market position. The company faces risks related to high redemption rates, potential inability to secure additional financing, and substantial doubt about its ability to continue as a going concern.