Andina III and EMMAC Life Sciences Limited said today they have mutually terminated negotiations regarding a proposed business combination. The parties signed a non-binding letter of intent on July 22, in which EMMAC was expected to trade on the NASDAQ. Both sides cited “challenging global economic conditions” among the reasons for terminating the deal. EMMAC bills itself as Europe’s largest independent cannabis company. Andina shareholders last week approved an extension of the SPAC’s deadline to close a deal. Andina was initially capitalized with a $100M IPO. Read more.
Andina and EMMAC Life Sciences Terminate Merger Negotiations
