Plum Acquisition in an 8-K said it received a deal termination notice yesterday from merger partner Sakuu.
As a result, the SPAC said its board has decided not to extend the termination deadline beyond June 18 and will redeem shares, instead.
Silicon Valley-based Sakuu is an additive manufacturing and solid-state battery company. The deal with Plum was announced three months ago at an implied enterprise value of $705 million.
Plum I raised $300 million in a March 2021 IPO. Read more.
