More than three weeks after Jupiter Wellness Acquisition shareholders approved merging with China-based EV maker Chijet, the SPAC said last night that the closing conditions have not been satisfied.
The press release follows an 8-K filing May 12 in which the SPAC made essentially the same statement.
None of the SPAC’s filings since the merger vote have mentioned redemptions, if any.
The SPAC raised $138 million in December 2021.
Jupiter’s deal announcement in October came less than a month after Deep Medicine Acquisition, called off a merger with Chijet. That deal was valued at $2.6 billion when announced last July. No reason was given for the termination, although Deep Medicine had twice extended the time period for its due diligence on the EV automaker. Read more.
