Back in the Saddle: Blockchain Moon Acquisition Won’t Liquidate After All

Blockchain Moon Acquisition in an 8-K said it “erroneously disclosed” that its sponsor would not deposit any additional funds into trust, spurring the SPAC to announced its liquidation. Instead, Blcokchain Moon said it will forge onward in search of a business combination and the sponsor will continue to make contributions to the trust for deadline extensions as necessary.

The SPAC in an earlier 8-K filing this week said it had 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.

The SPAC held almost $116 million when the DLTx ASA deal was announced in October, although redemptions ahead of an extension vote erased nearly 86% of the trust. Read more.

Total
0
Shares
Related Posts
Read More

Pine Technology Acquisition Liquidates Tomorrow

Pine Technology in March 2022 scrapped a proposed merger with The Tomorrow Companies. Although the parties cited “market conditions” as the reason for the decision to call off the deal, the SPAC in an 8-K filing said Tommorrow would be required to pay $1.5 million under terms of the termination agreement.