Artemis Strategic Investment and Danam Health have mutually agreed to terminate their merger agreement. The SPAC further said it will liquidate, being unable to complete a deal by deadline.
Artemis did not cite a per-share redemption price nor the number of shares that remain outstanding.
Announced in August, the transaction had a pro forma enterprise value of approximately $200 million.
Artemis in June had terminated a deal with Novibet. That termination was made under terms of the merger agreement that allowed the deal to be called off it it had not closed by Dec. 30, 2022, according to the filing, which did not state why the SPAC waited another 5 1/2 months before walking away from that deal.
Artemis originally raised $150 million in a Februray 2021 IPO. The SPAC at that time said it would seek a business combination target that provides transformational technology to experiential entertainment within the gaming, hospitality and entertainment industries. Read more.
