Recharge Acquisition Corp.
RCHGW
NASDAQ Capital Market0.00
USD
- -
- -
CIK
0001817786
Return %
Stock
S&P500
1Y
- -
18.21
3Y
-99.89
63.29
5Y
-99.99
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
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
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- IPO Date
- Nov 23, 2020
- CIK
- 0001817786
- Similar Companies
- Business
- Recharge Acquisition Corp. (RCHGW) operates as a blank check company, or special purpose acquisition company (SPAC), whose principal business activity focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. The company offers no current products or services beyond its SPAC structure, which provides investment opportunities in units comprising Class A common stock and warrants exercisable for shares at $11.50 per share; it initially targeted sizable opportunities in the convenience store industry, including regional chains of 150 stores or more valued between $500 million and $1 billion, with potential follow-on smaller deals. Founded in 2020 and headquartered in Sarasota, Florida, at 1900 Main Street, Suite 201, the company conducts operations principally in the United States through its Nasdaq-listed securities, including common stock (RCHG), units (RCHGU), and warrants (RCHGW). Led by Chairman Rajesh Soin, CEO Anthony R. Kenney—former president of Speedway LLC—and CFO Michael Gearhardt, Recharge Acquisition Corp. completed a $200 million initial public offering in October 2020, raising proceeds held in trust for deployment in a business combination. In a major development, the company announced its intent to liquidate in September 2022 after failing to identify a suitable target within its 24-month tenor, redeeming all outstanding Class A shares at approximately $10.12 per share net of taxes and expenses effective October 5, 2022; public shares ceased trading and were cancelled on that date, warrants became ineligible for redemption and also stopped trading, and Nasdaq filed to delist its securities, marking the company's full wind-down without completing any merger or acquisition.