26 Capital Responds To Purported Termination Of Merger Agreement By Tiger Resorts Asia; Believes That The Termination Notice Is Baseless Believes That Tiger Resorts And Its Affiliates Have Engaged In Repeated Contractual Breaches To Avoid Closing
Portfolio Pulse from Benzinga Newsdesk
26 Capital Acquisition Corp. (NASDAQ:ADER) has responded to a termination notice of a merger agreement from Tiger Resorts Asia Ltd, stating that the notice is baseless. 26 Capital accuses Tiger Resorts of repeated contractual breaches to avoid closing the deal. The matter is subject to a pending Delaware litigation set for trial on July 10, 2023.
July 05, 2023 | 5:03 pm
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26 Capital Acquisition Corp. (NASDAQ:ADER) is involved in a legal dispute with Tiger Resorts Asia over a terminated merger agreement. The case is set for trial on July 10, 2023.
The termination of the merger agreement and the ensuing legal dispute could negatively impact 26 Capital's stock in the short term due to the uncertainty and potential costs associated with the litigation. The company's reputation could also be affected, which may influence investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100