en.wikipedia.org/wiki/Human_Longevity
1 correction found
In June 2022, Human Longevity announced an initial public offering through a SPAC, with a valuation of $1 billion.
This was not an IPO announcement. Human Longevity and Freedom Acquisition I announced only a non-binding letter of intent for a proposed SPAC business combination, and that deal never closed.
Full reasoning
Human Longevity's June 20, 2022 announcement did not say the company was conducting an IPO. It said HLI and Freedom Acquisition I had "signed a non-binding letter of intent" for a proposed business combination that would make HLI public if completed, and it explicitly cautioned that there was "no assurance" a definitive agreement would be signed or that the transaction would be consummated.
That distinction matters: a proposed de-SPAC transaction is not the same thing as an announced IPO, especially when the parties had not yet entered a definitive merger agreement.
Later SEC filings show Freedom Acquisition I ultimately completed its July 18, 2023 business combination with Complete Solaria, not Human Longevity. So the June 2022 event was a proposed SPAC merger that did not close, not an IPO announcement by Human Longevity.
2 sources
- Human Longevity, Inc., and Freedom Acquisition 1 announce their intention to combine
The companies announced they had signed a non-binding letter of intent for a proposed business combination that would result in HLI becoming a publicly listed company, adding that there could be no assurance a definitive agreement would be entered into or that the transaction would be consummated.
- Complete Solaria, Inc. Annual Report on Form 10-K
The filing states that Freedom Acquisition I Corp. and other entities consummated the business combination on July 18, 2023, and that the company changed its name from Freedom Acquisition I Corp. to Complete Solaria, Inc.