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MAK Acquisition Ends SPAC Merger With UniUni

1 reports1 report sources3 hours agoUpdate

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MAK Acquisition, a TSX-listed SPAC led by former Dye & Durham CEO Matthew Proud, terminated its merger agreement with last-mile delivery startup UniUni, ending a planned TSX listing valued at over $1 billion. MAK said UniUni exceeded the maximum cumulative pre-tax loss allowed under the purchase agreement. UniUni had 15 business days after notice of the breach to cure it, but MAK said the breach was incurable, so it exercised its termination right and the proposed transaction will not proceed.

AI-generated from reports · 2 hours agoUpdate

Latest updatesOct 20 23:33
UniUni SPAC merger terminated, ending planned $1B+ TSX listing

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Oct 20
  1. BetaKit
    UniUni SPAC merger terminated, ending planned $1B+ TSX listing

    MAK Acquisition terminated its merger agreement with last-mile delivery startup UniUni.

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