SPAC Far Peak, cryptocurrency platform Bullish scrap $9B merger … – Seeking Alpha

SPAC Far Peak, cryptocurrency platform Bullish scrap $9B merger … – Seeking Alpha

Blockchain Crypto Market Technology
December 24, 2022 by Coinvasity
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Andrii Yalanskyi Andrii YalanskyiSPAC Far Peak Acquisition Corp. (FPAC) and cryptocurrency platform Bullish have mutually agreed to terminate their planned merger, citing their inability to consummate the deal by the merger agreement’s Dec. 31 deadline.Far Peak and Bullish had announced plans to merge in July 2021 through a deal that pegged the pro forma equity
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Man rejects SPAC word blocks. Failure to invest in high risk stock listed blank companies. Difficulty in determining the profitability of transaction and value of shares after merger. Hype topic

Andrii Yalanskyi

Andrii Yalanskyi
SPAC Far Peak Acquisition Corp. (FPAC) and cryptocurrency platform Bullish have mutually agreed to terminate their planned merger, citing their inability to consummate the deal by the merger agreement’s Dec. 31 deadline.
Far Peak and Bullish had
Far Peak held its initial public offering in December 2020, raising around $550M. The SPAC said that it doesn’t intend to pursue another business combination and will instead focus on winding down by March 7.
The news comes amid a meltdown of the cryptocurrency sector following the high-profile collapse of crypto exchange FTX. On Friday, FTX co-founder Sam Bankman-Fried was reportedly released on $250M bail as he awaits trial on federal fraud charges.

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