Dallas, TX, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Americas Technology Acquisition Corp. (NYSE:ATA, ATA.WS, ATA.U))))) ("ATA"), announced today that due to its inability to consummate an initial business combination by such date, the Board of Directors of ATA has elected to dissolve and liquidate ATA in accordance with the provisions of its Amended and Restated Memorandum and Articles of Association, as amended (the "Charter"), and will redeem all of the outstanding ordinary shares that were included in the units issued in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.59.

As of the close of business on December 17, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.

In order to provide for the disbursement of funds from the trust account, ATA will instruct the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company's transfer agent. Beneficial owners of Public Shares held in "street name," however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after December 17, 2022.

The Company's sponsor has agreed to waive its redemption rights with respect to its outstanding ordinary shares issued prior to ATA's initial public offering. There will be no redemption rights or liquidating distributions with respect to ATA's warrants, which will expire worthless.

About Americas Technology Acquisition Corp.

Americas Technology Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, or other similar business combination with one or more businesses or entities with an initial focus on technology, media, and telecommunications verticals.

Americas Technology Acquisition Corp. Announces Liquidation