SPAC Ribbit LEAP will redeem public shares

The company was founded in 2020 by Ribbit Capital, a Silicon Valley venture capital fund. In early August, the fund announced plans to liquidate its SPAC under the ticker LEAP and refund to investors.

Ribbit Capital said the investment team has negotiated with more than 100 potential merger partners since the IPO. But the companies either didn't meet Ribbit LEAP's investment criteria or preferred to remain private.

Overall interest in mergers through SPAC has also declined. This is mainly due to frequent scrutiny by the SEC, which plans to tighten requirements for such deals.

We are verifying the timing of the funds transfer to our brokerage account and will let you know as soon as the details are clear.

Stay tuned!