Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our units began to trade on the Nasdaq Capital Market under the symbol
“CLAQU” on July 15, 2021. Our shares of common stock, warrants and rights commenced separate trading on Nasdaq on August 4,
2021, under the symbols “CLAQ,” “CLAQW” and “CLAQR,” respectively.
Holders
of Record
At December 31, 2021, there were 20,239,250 of our
shares of common stock issued and outstanding held by 10 stockholders of record. The number of record holders was determined from the
records of our transfer agent and does not include beneficial owners of ordinary shares whose shares are held in the names of various
security brokers, dealers, and registered clearing agencies.
Dividends
We have not paid any cash dividends on our shares of common stock to
date and do not intend to pay cash dividends prior to the completion of an initial business combination. The payment of cash dividends
in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent
to completion of a business combination. The payment of any dividends subsequent to a business combination will be within the discretion
of our board of directors at such time. It is the present intention of our board of directors to retain all earnings, if any, for use
in our business operations and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable future.
In addition, our board of directors is not currently contemplating and does not anticipate declaring any share dividends in the foreseeable
future. Further, if we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to
in connection therewith.
Securities
Authorized for Issuance Under Equity Compensation Plans
None.
Recent
Sales of Unregistered Securities
There
were no unregistered securities to report which have not been previously included in a Quarterly Report on Form 10-Q or a Current Report
on Form 8-K.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
None.
ITEM
6. [Reserved]
As
a smaller reporting company, we are not required to make disclosures under this Item.
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