Item 8.01 Other Events.
On March 7, 2023, Emerging Markets Horizon Corp. (the "Company") issued a press
release announcing that due to its inability to consummate an initial business
combination within the time period required by its amended and restated
memorandum and articles of association (the "Articles"), the Company intends to
dissolve and liquidate in accordance with the provisions of its Articles and
will redeem all of the outstanding Class A ordinary shares that were included in
the units issued in its initial public offering (the "Public Shares"), at a
per-share redemption price of approximately $10.41.
As of the close of business on March 13, 2023, 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, as well as the Company's
publicly traded units and warrants, will cease trading as of the close of
business on March 10, 2023.
In order to provide for the disbursement of funds from the trust account, the
Company will instruct the trustee of the trust account to take all necessary
actions to liquidate the securities held in 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 will receive
their pro rata portion of the proceeds of the trust account, less $100,000 of
interest accrued therein to pay dissolution expenses, 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 March 13, 2023.
The Company's sponsor, officers and directors have agreed to waive their
redemption rights with respect to their outstanding Class B ordinary shares
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 the Nasdaq Stock Market LLC will file a Form 25 with
the United States Securities and Exchange Commission (the "Commission") to
delist the Company's securities. The Company thereafter expects to file a Form
15 with the Commission to terminate the registration of its securities under the
Securities Exchange Act of 1934, as amended.
A copy of the press release is attached as Exhibit 99.1 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit No. Description of Exhibits
99.1 Press release dated March 7, 2023.
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