Relativity Acquisition is a Special Purpose Acquisition Company (SPAC) and shell entity with no operations. Its sole purpose is to acquire or merge with a private business to take it public. While the company originally focused on the legalized cannabis industry, it broadened its search to include consumer packaged goods, technology, and logistics. Relativity Acquisition is currently in the late stages of a business combination with Instinct Brothers, a Japanese company, in a transaction valued at $200M. The company raised $144M in its February 2022 IPO, but extensive shareholder redemptions have since reduced the trust account significantly, leaving only 55,901 public shares outstanding. Because of these redemptions, Relativity Acquisition will execute the Instinct Brothers deal almost entirely through stock consideration. Relativity Acquisition Sponsor holds founder shares that become valuable only upon a successful business combination. The sponsor currently controls 96.52% of the voting power. If Relativity Acquisition does not complete the Instinct Brothers transaction or an alternative deal by February 15, 2027, the company must liquidate and return the remaining trust funds to its public shareholders.
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