Alberton Acquisition Corporation RT
ALACR
NASDAQ Capital Market0.04
USD
-0.03
- -
CIK
0001748621
Return %
Stock
S&P500
1Y
- -
18.21
3Y
- -
64.38
5Y
-74.26
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- United States of America
- IPO Date
- Nov 21, 2018
- CIK
- 0001748621
- Similar Companies
- Business
- Alberton Acquisition Corporation RT (ALACR) operates as a special purpose acquisition company, or blank check company, focused on pursuing mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or similar business combinations with one or more target businesses; it conducts no significant underlying operations. Originally founded in 2005 as Wisdom Resources Group Limited and headquartered in Wan Chai, Hong Kong, the company reincorporated in the British Virgin Islands and changed its name to Alberton Acquisition Corporation in July 2018. Its securities, including rights traded under the ALACR ticker, target institutional and retail investors seeking exposure to SPAC structures, primarily in global markets with operations centered in Asia. In October 2020, Alberton signed a merger agreement with SolarMax Technology Inc., a Nevada-based solar energy firm, under which a wholly-owned subsidiary would merge with SolarMax in a transaction valuing the target at $300 million, funded by trust proceeds net of redemptions and additional financing; the deal aimed to re-domesticate Alberton into a Nevada corporation post-closing, with combined operations emphasizing solar technology development, growth initiatives, and working capital. Multiple extensions were granted by Nasdaq in 2022, pushing the deadline to April 26 amid delays in SEC registration effectiveness and high redemptions exceeding 88% of public shares, leaving approximately $15 million in trust. However, SolarMax terminated the agreement on April 20, 2022, citing inability to close timely, prompting Alberton to liquidate its trust account for distribution to record shareholders as of April 26, 2022, followed by Nasdaq suspension of trading on that date and formal delisting of ordinary shares, warrants, units, and rights in July 2022.