ROI Acquisition Corp. II (NASDAQ: ROIQ; ROIQW; ROIQU) said it has withdrawn the stockholder and public warrantholder proposals relating to its previously announced proposed business combination with Ascend Telecom Holdings Limited.
Under the company´s amended and restated certificate of incorporation, as amended, the company has until October 26, 2015 to either consummate a business combination or redeem 100 percent of the shares of common stock issued in its initial public offering.
The company does not expect to complete a business combination by such date and, accordingly, plans to redeem all of the Public Shares for a per share amount, determined in accordance with the Charter, of approximately USD10.00 per share. Payment of such amounts will constitute the company´s final payment in respect of the liquidation of the trust account that holds the proceeds of the company´s initial public offering.
The company is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the company and one or more businesses.