Merger Termination

The SPAC said it intends to identify another target business.

The $380 million deal was announced in August 2022.

According to the timeline set by the its shareholders during a special meeting held in June, the SPAC has until July 5, 2024 to finalize a deal.

EEW is an independent global developer of utility scale solar photovoltaic projects.

The deal was announced in May at a pro forma enterprise value of $249 million. About a week later, redemptions on an extension vote claimed about 80% of the $200 million raised in the SPAC's November 2021 IPO.

If Rose Hill’s board determines that it is unable to complete an initial business combination on or prior to Jan. 18, the SPAC will liquidate, according to the 8-K.

The deal was announced in June at a post-transaction enterprise value of $225 million, and the SPAC filed an S-4 three months later.

The SPAC unveiled plans earlier this year to combine with London Innovation Underwriters and raise additional funds to deploy in the Lloyd’s of London insurance market. It had sought to raise up to 300 million pounds ($364.7 million) to invest. The merger was scrapped last week.

The $547 million Covalto deal was announced in August 2022. LIV Capital II raised $100 million in a February 2022 IPO.

The SPAC said it determined that a material adverse effect on Avanseus’ financial condition and results of operations had occurred as a result of steady material deterioration in Avanseus’ business.