Disruptive Acquisition Corporation I (DISA)

Disruptive Acquisition Corporation I was a special purpose acquisition company formed to merge with a consumer-facing brand in health and wellness, entertainment or consumer technology. It was sponsored by an affiliate of Disruptive Technology Advisers and based in Austin, Texas. Its leadership and board included former professional tennis players Mardy Fish and James Blake, along with investor Karen Finerman. Its Class A shares traded on the Nasdaq Capital Market as DISA.

The company completed its initial public offering in March 2021, selling 25 million units at $10.00 each for $250 million, with another 2.5 million units sold in May 2021 when underwriters partly exercised their over-allotment option. Each unit included one Class A share and one-third of a warrant. The proceeds were placed in a trust account while management looked for a target.

No business combination was announced. Shareholders approved an extension in early 2023, which led to large redemptions, and Nasdaq notified the company in June 2023 that it was out of compliance with listing rules. Trading was suspended at the opening of business on December 26, 2023, and Nasdaq filed a Form 25 in February 2024 to complete the delisting.

On March 25, 2024, the board decided to dissolve and liquidate because a deal could not be completed in time. Public shares were cancelled as of April 8, 2024, and holders became entitled to an estimated $10.85 per share from the trust. The warrants expired worthless, and the sponsor waived redemption rights on its founder shares.