Goldenstone Acquisition Limited (NASDAQ:GDST) announced this afternoon that it has entered into a joint agreement to terminate its combination with blockchain-based payments company, Roxe.
Goldenstone’s 8-K kept the details to a minimum, but it did disclose that the termination was mutual. As a result, no termination fee will be due to either party.
The SPAC originally brought about $57.5 million into the deal from its current trust and did not supplement this with a PIPE, but the deal also did not include a minimum cash condition. While the parties did not give a reason for terminating the deal just months after announcement, it is likely that unfavorable market conditions combined with a blockchain target played a significant role. Goldenstone and Roxe mark the 46th deal to be terminated this year.
Goldenstone initially announced its $3.6 billion business combination to combine with Roxe on June 22, 2022. New York City-based Roxe provides payments tools for remittances as well as merchant and consumer purchases on its in-house blockchain.
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BYTE Acquisition Corp. (NYSE:BYTS) announced this afternoon that its special meeting to extend its deadline, originally scheduled for Tuesday, December 20, 2022, has been postponed. The SPAC has not yet disclosed the new date for the meeting, but it is expected to be announced at a later date. BYTE did note that it intends to...
D and Z Media Acquisition Corp. (NYSE:DNZ) announced this afternoon that its special meeting, originally scheduled for 12:00 p.m. today, was convened and then adjourned, without conducting any business, to 1:30 p.m. on December 19. As of now, DNZ has a completion deadline of January 28, 2023, but is hoping to seek shareholder approval to add an extra...
EDOC Acquisition Corp. (NASDAQ:ADOC) has entered into a definitive agreement to combine with food oil processing company Australian Oilseeds at an enterprise value of $190 million. Australian Oilseeds manufactures food-grade, edible oils through several subsidiaries. Transaction Overview EDOC has an estimated $21.3 million in its current trust after seeing about 77.5% redemptions in extension votes....