Merger Termination

FoxWayne had also terminated an agreement with Aerami Therapeutics in March 2022.

The $350 million deal with PlayUp, a global online betting operator, was announced less than four months ago.

DTRT's sponsor resolved to make no further contributions to the SPAC's trust for deadline extensions. Without those deposits, DTRT said in the filing it is thus obligated to liquidate and redeem shares as soon as practicable.

Far Peak said it does not intend to seek a new merger partner and will instead focus on winding up either on March 7, 2023, or sooner.

The SPAC in an 8-K filing today said it has called off its proposed merger with Varian Biopharmaceuticals, alleging the target is in breach "of one or more covenants" in the merger agreement.

Aries has up to 8 more additional monthly deadline extensions it could deploy in pursuit of another deal.

The deal announced in June valued Rally at pro forma enterprise value of $208 million.

The potential deal between Saxo and the SPAC was initially announced in mid-September. If it had materialized, the merged entity was expected to list on the Euronext Amsterdam.

As announced in October, Intrinsic was set to receive up to $178.8 million of cash held in trust, which assumed zero redemptions. The business combination reflected a pre-money equity value of $136 million for Intrinsic.

Gores VIII in September had announced that developing market conditions prompted it to lower the estimated pro forma enterprise value of Footprint to $1 billion, down from $1.6 billion.