Jupiter Acquisition announced the mutually agreed termination of its merger agreement with Filament Health. The SPAC’s postponed shareholder meeting to vote on the deal Dec. 28 was cancelled.
Jupiter now plans to redeem shares and liquidate effective at the close of business Dec. 26 because the board has determined it will not be able to complete another deal by deadline.
The announcement comes less than a day after Filament cancelled its own shareholder meeting to make material changes to the now-terminated deal.
The transaction had valued Filament at an equity value of approximately $176 million, and had been expected to close by the end of this year.
Jupiter initially planned to hold a vote this month on a deadline extension that would have given it until June 2024 to close the deal. Read more.
