Social Leverage Acquisition Corp I (SLAC) and W3BCLOUD Mutually Terminate Deal
by Kristi Marvin on 2023-09-22 at 4:46pm

Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement.

The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the blockchain sector. Both of which have had a difficult 18 months.

However, Social Leverage I did note that they intend to keep searching and will look for an alternative business combination. Neither party will be required to pay the other any fees or expenses as a result of the Termination.

Social Leverage I and W3BCLOUD announced their combination a little more than a year ago on August 1, 2022.  Dublin-based W3BCLOUD has built up a global network of high-performance data centers to support Web 3.0 and the blockchain economy.

 

 

Recent Posts
by Nicholas Alan Clayton on 2024-05-23 at 7:54am

At the SPAC of Dawn When British regulators adopted new SPAC rules in 2021, it was in part to try and lure more business back to UK exchanges while the SPAC boom was ongoing in the US. Instead, UK-based SPAC volume has remained low and the country’s latest SPAC deal will actually take its target...

by Nicholas Alan Clayton on 2024-05-22 at 1:59pm

Perceptive Capital Solutions (NASDAQ:PCSC) has filed for a $75 million IPO with an experienced team able to drive ambitious terms. It becomes just the second SPAC in six months to file for a vehicle without either warrants or rights and it would become one of a select few teams that have gotten such a vehicle...

by Nicholas Alan Clayton on 2024-05-22 at 7:42am

At the SPAC of Dawn Autonomous driving de-SPACs gained a new playground this week as the UK has passed expansive new legislation allowing for autonomous vehicle testing and use on British roads. The new law will clarify liability issues around collisions and beef up its regulatory arm that considers new vehicles to be approved for...

by Kristi Marvin on 2024-05-22 at 7:35am

Providing dedicated power to industrial facilities is a task that has drawn in a variety of different energy technologies and, increasingly, a variety of SPAC transactions. This week, we speak with Jereme Kent, founder and CEO of One Energy. One Energy provides dedicated clean power generation to industrial clients allowing them to lock in cheaper energy,...

by Nicholas Alan Clayton on 2024-05-21 at 7:49am

At the SPAC of Dawn Yesterday’s trading provided a jumpy session for some of the highest profile recent de-SPACs with crypto marketplace Bakkt (NYSE:BKKT) leaping +45% to $16.65, although this price would be $0.67 adjusted for stock splits. DTC health firm Hims (NYSE:HIMS) and EV maker VinFast (NASDAQ:VFS) each gained more than +25% on the...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved