Merger Termination

Gett in the news release also said it will withdraw from the Russian transportation and delivery market permanently.

The SPAC adjourned yesterday's shareholder meeting without voting on the deal and planned to reconvene this morning. Today's meeting was cancelled in the wake of the deal termination.

The companies cited "current unfavorable market conditions" for the decision.

Although the parties cited "market conditions" as the reason for the decision to call off the deal, the SPAC in an 8-K filing said Tommorrow will be required to pay $1.5 million under terms of the termination agreement.

The merger termination was due to the target's "failure to deliver financial information," according to an SEC filing.

ARYA IV’s dissolution deadline is March 2, 2023.

Astrea Acquisition's proposed merger with HotelPlanner and Reservations.com was expected to provide more than $120 million in cash proceeds.

Essentium CEO Blake Teipel blamed market conditions for the failed deal.

The rate of redemptions would have exceeded the minimum cash condition for closing, the SPAC noted.

Announced in July 2021, the transaction was expected to deliver up to $599 million of gross proceeds to HeartFlow from the $690 million cash in trust held by Longview Acquisition II.