NEW YORK, Feb. 10, 2023 (GLOBE NEWSWIRE) — Counter Press Acquisition Corp. (the company”)CPAQ announced the following today:

• The Company anticipates that the Company will not be able to consummate an initial business combination within the time period required by its amended and restated Memorandum and Articles of Incorporation.
• Accordingly, the Company intends to be wound up and wound up in accordance with the provisions of its amended and restated Memorandum and Articles of Incorporation.
• As part of this dissolution and liquidation, the Company will redeem all outstanding Class A common shares included in its IPO (the “Public Shares”) at a redemption price of approximately $10.15 per share.

As of close of business on or before February 27, 2023, the Public Shares will entitle them to receive the redemption amount. Upon redemption, these public shares are deemed to have been canceled.

In order to provide disbursements from the escrow account, the Company has authorized the trustee of the escrow account to take all necessary actions to close the escrow account. The proceeds of the escrow account are held in a non-interest-bearing account while awaiting distribution to the public stockholders.

Record holders may redeem their shares in exchange for their pro rata share of the proceeds of the trust by delivering their public shares to Continental Stock Transfer & Trust Company, the Company’s transfer agent. However, beneficial owners of Public Shares held under “Street Name” need not do anything to receive the redemption amount. The redemption of public shares is expected to be completed on February 27, 2023.

The Company’s original shareholders have waived their redemption rights with respect to their outstanding common shares issued prior to the Company’s IPO.

About Counter Press Acquisition Corp.

The Company is a blank check corporation formed to consummate a merger, stock swap, asset acquisition,…