Pontem Corporation will redeem its Public Shares and will not consummate an initial business combination

THE WOODLANDS, Texas, May 15, 2023 /PRNewswire/ -- Pontem Corporation (NYSE:PNTM) (the "Company"), a special purpose acquisition company, today announced that it will redeem all of its outstanding Class A ordinary shares, par value $0.0001 per share (the "Public Shares"), effective on or about the close of business on May 30, 2023, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association (the "Articles"). The last day of trading will be May 26, 2023.