05:30 AM EDT, 03/13/2024 (MT Newswires) -- Altitude Acquisition Corp. ( ALTU ) said late Tuesday that it will redeem all of its publicly held class A common shares at an estimated price of $10.1577 per share because it will not be able to consummate an initial business combination within the timeframe allowed in its certificate of incorporation.

In line with the decision, the company said it will liquidate its trust account in order to disburse funds for the redemption of its publicly held shares.

The company's stock is now expected to be delisted from Nasdaq.