Merger Termination

The parties have signed an agreement terminating the deal on mutually acceptable terms, however, Flexjet as part of that agreement agrees to pay a termination fee of approximately $30 million to Horizon.

Following a deadline extension vote in February, Cascadia had disclosed that 14,710,805 shares were redeemed. That wiped out 78% of the 18.75 million shares outstanding.

DUET in a statement said it will seek an alternative business combination. AnyTech365 is engaged in IT security and support.

The news comes just days after the SPAC announced a forward purchase agreement for six million shares in support of the deal. In January, dMY launched a tender offer to purchase up to 24.15 million Class A shares to shore up the Rainwater Tech deal.

Alpine’s merger agreement with Two Bit Circus was announced last May. The deal had been tweaked several times since then, with the latest iteration calling for the target to receive about $47 million.

The SPAC held almost $116 million when the DLTx ASA deal was announced, although redemptions ahead of an October extension vote erased nearly 86% of the trust.

The SPAC lost nearly 59% of its share value to redemptions in connection with an extension vote earlier this month.

As announced in August, Plastiq was expected to add approximately $320 million to its balance sheet.

The SPAC did not indicate in the 8-K what its next move might be. A successful extension vote has pushed the SPAC's deadline from March 13 to Sept. 13, although redemptions wiped out 99.6% of the trust, which now holds just over $1 million.

However, Sagaliam CEO Barry Kostiner in the filing said he disputes the validity of the $1 million termination fee and has submitted a proposal to Sagaliam for the acquisition of Sagaliam Sponsor by an independent third party with the intent of presenting an alternative acquisition to Arabian Entertainment.