Class Acceleration Corp. C/WTS 3
CLAS-WT
New York Stock Exchange0.01
USD
- -
- -
CIK
0001826855
Return %
Stock
S&P500
1Y
-93.75
18.02
3Y
-93.75
64.11
5Y
-93.75
72.15
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001826855
- Similar Companies
- Business
- Class Acceleration Corp. is a special purpose acquisition company (SPAC) focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses primarily in the digital learning industry. Founded in 2020 and headquartered in Woodside, California, the company aims to acquire and operate a digital learning leader benefiting from strong market growth driven by knowledge economy trends and internet expansion. Class Acceleration Corp. completed its initial public offering in January 2021, raising approximately $258.75 million through the sale of units consisting of Class A common stock and redeemable warrants. The company does not have significant operations of its own but strategically seeks businesses with competitive advantages and potential for sustainable revenue and free cash flow growth across diverse geographic regions. The company’s latest significant developments include the extension of its business combination deadline from January 20, 2023, to June 20, 2023, approved by stockholders in December 2022. Concurrently, the board decided to liquidate the company before the end of 2022 due to the failure to consummate a qualifying business combination, resulting in the redemption of all Class A common stock and the extinguishment of redeemable warrants without value. This liquidation decision has led to the cessation of trading and dissolution processes. Prior to the liquidation decision, Class Acceleration Corp. pursued the education technology sector for potential acquisitions, leveraging the management team’s significant operating and transactional experience in global investments. Overall, Class Acceleration Corp. operates as a blank check company targeting acquisition opportunities in the digital learning sector, with a strategic focus on companies exhibiting strong growth potential and resilient free cash flows. Recent major events center around its failure to complete a business combination, resulting in the liquidation and winding up of the company’s operations. The company’s key assets at IPO included substantial trust account funds and redeemable warrants, aimed at facilitating its strategic acquisition ambitions in the high-growth education technology industry segment. The company's headquarters remain in Woodside, California.