Northern Star Investment II in an 8-K filing today disclosed that Apex Fintech Solutions had notified the SPAC of its intention to terminate the business combination that valued the merged companies at $4.7 billion.
Apex is a custody and clearing engine that partners with broker-dealers, ATS’s, routing firms, professional trading firms, hedge funds, institutions and emerging managers. The SPAC’s agreement with Apex allowed either party to walk away from the deal if it had not closed by Nov. 30.
Northern Star II said it had spent eight months trying unsuccessfully to get its S-4 on the deal cleared by the SEC. Northern Star II filed the S-4 in April. A shareholder vote set for Aug. 30 was postponed.
Northern Star has until January 28, 2023 to complete a deal. Read more.
