EdtechX Holdings Acquisition II in an 8-K disclosed it has terminated a merger agreement with zSpace, a provider of commercial augmented reality and virtual reality technology in the global education market.
The SPAC said the decision to abandon the deal was “based upon certain breaches by zSpace of the terms of the merger agreement.”
As announced in May 2022 the business combination implied a pro forma enterprise value of $195 million.
EdtechX II has until Dec. 15 to secure and close another deal. Read more.