Rose Hill Acquisition in an 8-K said it has terminated a merger agreement with Prize Superfoods, an exporter of “superfruits” based in Chile. The deal was announced in October 2022 at an initial enterprise value of approximately $425 million.
Rose Hill stock was suspended from trading on the Nasdaq last week because the SPAC had fallen out of compliance with a listing rule requiring at least 500,000 shares on the exchange. The Nasdaq intends to delist the stock and Rose Hill does not intend to ask for a rweview of that decision, the SPAC said in the filing.
If Rose Hill’s board determines that it is unable to complete an initial business combination on or prior to Jan. 18, the SPAC will liquidate, according to the 8-K. Read more.
