The new announcement follows careful consideration and thorough evaluation of potential targets, as well as taking into consideration current market conditions, says executive chairman and CEO Loke Wai San in a filing.
NTAA is slated to release a further announcement with details of the process to redeem the issued outstanding Class A shares.
Another Singapore spac, Pegasus Asia, announced its dissolution on Dec 20, 2023.
The only spac listed in Singapore that has successfully completed a business combination is Vertex Technology Acquisition Corp, having merged with live-streaming platform 17LIVE following an EGM on Dec 1.
See also: Hong Kong's first de-spac listing still leaves sector in limbo
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Shares in NTAA closed flat at $4.93 on Jan 11.
