Macondray Capital Acquisition Corp. I
DRAYW
NASDAQ Capital Market0.00
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Macondray Capital Acquisition Corp. I
DRAYW
(NASDAQ Capital Market)
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Macondray Capital Acquisition Corp. I operates as a blank check company focused on effecting mergers, amalgamations, share exchanges, share purchases, asset acquisitions, reorganizations, or similar business combinations with one or more businesses, primarily targeting companies in the software, data and technology, media, and telecom industries. Incorporated in 2021 as a Cayman Islands exempted company and headquartered in Woodside, California, the company conducts no significant operations and generates no revenue pending a business combination. It offers no current products or services beyond its SPAC structure, including Class A ordinary shares, units, and warrants traded under tickers DRAY, DRAYU, and DRAYW on Nasdaq. In December 2022, the company announced it would redeem its public shares at approximately $10.15 per share and liquidate effective January 6, 2023, due to failure to complete an initial business combination within the required timeframe, with warrants expiring worthless and Nasdaq delisting anticipated thereafter; however, as of late 2025, warrant trading persists at low levels with no confirmed dissolution or new merger activity reported. The company maintains a global search scope for targets with enterprise values around $1.5 billion or more but reports no recent partnerships, funding rounds, acquisitions, product launches, or strategic expansions beyond its original IPO of $250 million in July 2021, underwritten by B. Riley, Inc..