Item 8.01. Other Events.
Due to Hamilton Lane Alliance Holdings I, Inc.'s ("the Company's") anticipated
inability to consummate an initial business combination within the time period
required by its Amended and Restated Certificate of Incorporation, the Company
intends to liquidate its trust account in accordance with the provisions of its
Amended and Restated Certificate of Incorporation and will redeem all of the
shares of outstanding Class A common stock that were included in the units
issued in its initial public offering (the "Public Shares"), at a per-share
redemption price of approximately $10.08.
As of the close of business on December 14, 2022, the Public Shares will be
deemed cancelled and will represent only the right to receive the redemption
amount. The Company anticipates that the Public Shares will cease trading on The
Nasdaq Stock Market LLC ("Nasdaq") as of the close of business on December 14,
2022.
In order to provide for the disbursement of funds from the trust account, the
Company has instructed the trustee of the trust account to take all necessary
actions to liquidate the trust account. The proceeds of the trust account will
be held in a non-interest bearing account while awaiting disbursement to the
holders of the Public Shares. Record holders may redeem their shares for their
pro rata portion of the proceeds of the trust account by delivering their Public
Shares to Continental Stock Transfer & Trust Company, the Company's transfer
agent. Beneficial owners of Public Shares held in "street name," however, will
not need to take any action in order to receive the redemption amount. The
redemption of the Public Shares is expected to be completed within ten business
days after December 15, 2022.
The Company's initial stockholders have waived their redemption rights with
respect to its outstanding common stock issued prior to the Company's initial
public offering.
There will be no redemption rights or liquidating distributions with respect to
the Company's warrants, which will expire worthless.
The Company expects that Nasdaq will file a Form 25 with the United States
Securities and Exchange Commission (the "SEC") to delist the Company's
securities. The Company thereafter expects to file a Form 15 with the SEC to
terminate the registration of its securities under the Securities Exchange Act
of 1934, as amended.
On December 5, 2022, the Company issued a press release announcing that the
Company intends to liquidate the trust in accordance with the provisions of its
Amended and Restated Certificate of Incorporation and will redeem all of its
Public Shares. A copy of the press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release, dated December 5, 2022
104 Cover Page Interactive Data File (formatted as Inline XBRL)
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