Aries I Acquisition in a regulatory filing disclosed it has terminated its merger agreement with Infinite Assets, a Web3 and Metaverse infrastructure company that enables brands and creators to create, monetize, and drive consumer engagement with digital content. The decision was by mutual agreement, according to the 8-K filing.
The deal was announced a year ago.
Aries has up to 8 more additional monthly deadline extensions it could deploy.
Aries said it intends to continue to pursue a business combination with an appropriate target. Any alternative acquisition must be consummated by December 21, 2022 (or August 21, 2023 if the SPAC extends the time to consummate an initial business combination to the fullest extent available), or during any additional shareholder-approved extension period. Read more.
Source: Aries I Acquisition Terminates 0M Merger Deal with Infinity Assets