Investcorp Europe Acquisition Corp. I Announces Termination Of Business Combination Agreement With Zacco Holdings; Under The Terms Of The Business Combination Agreement, The Co Will Receive A $30M Termination Payment. It Is Expected That At Least $20M Of Such Termination Amount Would Be Used To Pay Expenses Incurred By The Co
Portfolio Pulse from Benzinga Newsdesk
Investcorp Europe Acquisition Corp. I (NASDAQ:IVCB) has terminated its business combination agreement with Zacco Holdings, resulting in a $30 million termination payment. At least $20 million will cover incurred expenses. The company is considering alternative business combinations or dissolution.
September 25, 2024 | 1:08 pm
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Investcorp Europe Acquisition Corp. I has terminated its business combination with Zacco Holdings, receiving a $30 million termination payment. The company plans to use at least $20 million to cover expenses and is considering future options.
The termination of the business combination agreement results in a $30 million payment, which is a positive cash inflow. However, the use of $20 million for expenses and the uncertainty about future plans (alternative business combination or dissolution) creates a neutral short-term impact on the stock price.
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