Merger Termination

Yotta in March sought an extension of up to a year to complete the deal. Shareholders approved the measure, although more than 7.4 million shares were redeemed.

The deal was announced less than three months ago.

The termination notice alleges wrongdoing by DiaCarta, which the company in a press release "vehemently denies."

Force also agreed to pay the SPAC $250,000 for calling off the deal.

The SPAC said the decision to abandon the deal was "based upon certain breaches by zSpace of the terms of the merger agreement."

Avila Energy announced today that Insight Acquisition has sent a notice of default, and that it intends to terminate the business combination agreement signed in April -- if the alleged default is not cured by July 26.

The SPAC in December announced the deal with Malaysia-based Wellous Group, an Asia-based international nutrition company that develops, manufactures, markets and sells health and wellness products.

Wejo filed for insolvency last month in the UK.

The SPAC in the same regulatory filing announcing the deal termination also noted that it received a delisting warning from the Nasdaq after falling below the minimum $25 million market cap required by the exchange.

The SPAC had postponed a shareholder vote on the merger five times in the last month, saying it was working to satisfy the closing conditions.