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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.

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