Amcomri Terminates Reverse Takeover Deal with Rockpool Acquisitions

However, Sagaliam CEO Barry Kostiner in the filing said he disputes the validity of the $1 million termination fee and has submitted a proposal to Sagaliam for the acquisition of Sagaliam Sponsor by an independent third party with the intent of presenting an alternative acquisition to Arabian Entertainment.

It was just a week ago today that Service Max agreed to slash $100 million off the minimum cash condition to seal the deal.

Ace Global earlier this month extended its deadline to October while working out the deal.

Neither party is required to pay fees or expenses to the other. The SPAC said it will now pursue alternative targets.