Social Leverage Acquisition I in an 8-K said it had terminated by mutual agreement a merger deal with W3BCLOUD Holdings, a storage and compute infrastructure provider for Web3. The transaction at deal announcement in August 2022 gave the combined company an enterprise value of $1.25 billion.
Neither party is required to pay fees or expenses to the other.
The SPAC said it will now pursue alternative targets.
Social Leverage I raised $300 million in a February 2021 IPO. Read more.
