JUST IN: The Ether Machine, a firm focused on treasury and performance with ether, canceled its SPAC merger with Dynamix Corporation in a major setback to its plans to list on Nasdaq. The deal, valued at $1.6 billion, fell apart due to unfavorable market conditions, even though the company holds more than $1.1 billion in ETH on its balance sheet. The Ether Machine and Dynamix Corporation mutually agreed to terminate their $1.6 billion SPAC merger. Dynamix will receive a $50 million termination payment within 15 days, according to a filing with the SEC.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.