NEW YORK--(BUSINESS WIRE)--Electrum Special Acquisition Corporation (NASDAQ: ELEC), a blank check acquisition company previously announced that it intends to dissolve and liquidate in accordance with its Amended and Restated Memorandum and Articles of Association, including the redemption of all of its outstanding ordinary shares that were included in the units issued in its initial public offering, as soon as possible after June 5, 2018  because the Company will not be able to consummate an initial business combination within the time period required by its Memorandum and Articles of Association.

The Company today announced that its trust account established in connection with the Company’s initial public offering has been liquidated and that 10,760,446 public shares were submitted to the Company’s transfer agent, Continental Stock Transfer & Trust Company, and were redeemed on May 24, 2018 at a price of approximately $10.48 per share.

As previously announced, the Company expects that all public shares received by the Company’s transfer agent on or before 5:00 p.m., eastern time, on May 30, 2018 will be redeemed on the following business day. The Company expects that any remaining public shares will cease trading as of the close of business on June 5, 2018 and be redeemed on June 6, 2018.

The Company intends to file with the Securities and Exchange Commission (the “SEC”) on or about June 6, 2018 a Form 25 to delist its securities from Nasdaq. 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. The Company’s securities will not be listed or registered on another national exchange or on a quotation medium.