Open check firm Capital Venture Acquisition Corp II recently announced that it has mutually terminated its $1.25 billion merger agreement with crypto mining and infrastructure firm Prime Blockchain.
Although companies often come up with the news of their collaboration, sometimes the opposite can be the case. Agreement terminations, which occur sometimes due to the current situations not sleeping and sometimes due to the disagreement of the parties, affect the markets both according to the shares of the companies and the size of the company. This news, which came after Galaxy Digital terminated the BitGo agreement recently, attracted a lot of attention.
After Galaxy Digital, Prime Blockchain And 10X SPAC Also Terminated The Agreement
Capital Venture Acquisition Corp II and Prime Blockchain, which recently announced the terms of the agreement, announced that they terminated this agreement with a new document they published. Although the exact reasons for this termination are not disclosed, it has led to allegations that the interest in special purpose purchasing companies, namely SPACs, has decreased.
Announcing their collaboration in April, these two companies did not give a reason for the final move, but this year the markets have caused many companies to unplug their SPAC deals. The reason for this is very high inflation and recession.
Better-than-expected inflation data last week offered some hope, but analysts warned against too much optimism, arguing that the Fed will look for more solid evidence that inflation is receding before rate hikes slow the pace.
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