Breeze Holdings Acquisition in an 8-K filing said it has terminated debenture financing of $30 million from investor ATW Partners.
Breeze and merger partner D-Orbit in January entered into a securities purchase agreement with ATW for $30 million in original issue discount convertible debentures due four years from the date of issue.
On July 28 the parties terminated the agreement and ATW refunded to D-Orbit a portion of a commitment fee previously paid by D-Orbit.
This follows the SPAC’s filing last week for a fourth deadline extension on the deal with D-Orbit, a space logistics and orbital transportation company. Breeze wants to extend the deadline to as late as Dec. 26. Read more.
