Quadro Acquistion in a regulatory filing said it terminated a deal to acquire a group of seven companies affiliated with Global Growth, a private equity firm founded by Greg Lindberg. Thwe companies are engaged in the sports collectibles, software, cloud-based IT and healthcare services segments.
The deal had an estimated pro-forma enterprise value of $3 billion at announcement in January.
The SPAC said it notified the seller that it terminated the acquistion “due to material breaches” resulting from the seller’s failure to provide the company with the 2023 financial statements by an April 30 deadline, and for failure to provide seller disclosure schedules.
Separately, the SPAC disclosed that it received a nasdaq delisting warning due to unpaid annual fees totaling $81,000. Quadro said it would seek a hearing to review the matter.
