Pathfinder Acquisition, Service Max Agree To Terminate Merger Deal - Quick Facts

Pathfinder Acquisition Corp. (PFDR), a publicly traded special purpose acquisition company co-sponsored by affiliates of HG and Industry Ventures, and Service Max, Inc., announced Monday that both companies have mutually agreed to terminate their previously announced Business Combination Agreement, effective immediately, due to unfavorable market conditions.

The companies added that neither party will be required to pay the other a termination fee as a result of the mutual decision to terminate the deal.

Accordingly, Pathfinder has canceled the extraordinary general meeting of its shareholders, which was scheduled to be held on December 7, 2021, for the purpose of voting on the deal.

Meanwhile, Pathfinder intends to continue to pursue the consummation of a business combination prior to its dissolution deadline of February 19, 2023.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Oilfield services company Schlumberger Ltd. reported Friday a profit for the fourth quarter that surged 61 percent from last year, reflecting 13 percent higher revenues amid growth across all segments and regions. Both adjusted earnings per share and quarterly revenues topped analysts' estimates. Twitter Inc. has launched a new feature to allow some users of its Blue subscriber service to keep non-fungible tokens or NFTs as their profile pictures. Twitter Blue is now available in the US, Canada, Australia, and New Zealand. NFT is a crypto token, which is non-fungible, meaning that it can neither be transferred like money nor replaced with something else. Frozen Food Development is recalling specific lots of Lidl branded 12-ounce packages of Frozen Chopped Spinach citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The product comes in 12-ounce poly bags, and items included in the recall are marked with lot # R17742 or R17963 on the back of the poly bag with a best by date of 09/10/23.
Follow RTT