Blockchain Moon Acquisition in an 8-K said it has terminated a merger agreement with DLTx ASA, which builds the infrastructure for Web 3 globally, including decentralized Cloud Computing, Green Bitcoin Mining, and Decentralized Data Relay Services.
As announced in October, the combined company was expected to have an implied initial enterprise value of approximately $163.35 million.
Instead, becauase the SPAC’s sponsor will not contribute any more money to the trust, Blcokchain Moon will redeem shares and liquidate.
The SPAC held almost $116 million when the DLTx ASA deal was announced, although redemptions ahead of an October extension vote erased nearly 86% of the trust. Read more.
