Tristar Acquisition I in an 8-K said it terminated a letter of intent signed in March with an unnamed target.
The SPAC at that time said discussions had been ongoing “over an extended period of time.”
Earlier news reports noted that ViaPath Technologies, which provides telecommunications and other services to the incarcerated population across the US, was in talks to go public through a merger with Tristar I, although the SPAC never confirmed this.
As a result of the LOI, under the terms of its prospectus Tristar I was entitled to an automatic extension of its merger deadline, which is July 18.
The SPAC raised $200 million in an October 2021 IPO. Read more.
