Standard Mercantile Acquisition Corp. declared a special distribution of $0.397 per Class A share of the Company . The Special Distribution, which constitutes a return of capital pursuant to the winding-up of the Company's business as approved by shareholders of the Company on June 16, 2016, as amended on May 6, 2021 (the "Orderly Wind-Up"), will be paid on June 28, 2023 to holders of Class A shares of record at the close of business on June 16, 2023.

As of June 6, 2023, there were 7,298,567 Class A shares outstanding.