(Alliance News) - Industrial Stars of Italy 4 Spa reported Wednesday that it closed 2022 with a loss of EUR617,816.

The SPAC's shareholders' equity is EUR137.6 million and net cash and cash equivalents are EUR136.9 million.

The SPAC is expected to merge with a target company by July this year and, as reported Wednesday, selection and negotiation activities with possible targets are ongoing.

The stock of Industrial Stars of Italy 4 is unchanged at EUR9.90 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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