Golden Falcon Acquisition Corp. (GFX)

Golden Falcon Acquisition Corp. was a special purpose acquisition company formed to merge with a technology, media, telecommunications or fintech business based in Europe, Israel, the Middle East or North America. Its sponsor was Golden Falcon Sponsor Group, and it was led by chief executive Makram Azar and chairman Scott Freidheim. Its registered office was in Newark, Delaware.

The company priced its initial public offering on December 17, 2020, selling 30 million units at $10.00 each, with an option for underwriters to buy more. Each unit included one share of Class A common stock and one-half of a warrant exercisable at $11.50. The units, shares and warrants were listed on the New York Stock Exchange, with the shares trading as GFX.

After a long search, Golden Falcon agreed to combine with MNG Havayollari ve Tasimacilik A.S., known as MNG Airlines, an Istanbul-based air cargo carrier. The deal would have taken the airline public in the United States, but it required regulatory approvals and a registration process that dragged on.

On August 8, 2023 the parties mutually terminated the merger agreement. With its August 24, 2023 deadline approaching and no time to find another target, Golden Falcon said it would redeem all public shares for their pro rata share of the trust account and wind down. Its warrants expired worthless.

The last day of trading on the NYSE was expected on or about August 24, 2023, after which the exchange filed to delist the units and Class A shares and the company deregistered with the SEC.