Friday, Workstream Inc., (WSTM), a provider of talent management solutions, announced that it has terminated its merger agreement with Empagio Acquisition LLC and SMB Capital Corporation, a wholly-owned subsidiary of payroll software provider Empagio.
The company said it has demanded a payment of a $5 million termination fee from Empagio pursuant to the terms of the agreement.
Earlier, in mid-February, Workstream and Empagio signed a definitive agreement to merge Workstream with the operating holding company of Empagio. According to the agreement, Empagio would own 75% and Workstream would own 25% of the combined entity on a fully diluted basis.
Workstream closed Friday's regular trading session at $0.32, down $0.0298 or 8.52%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.