ICLK - Why iClick Interactive Asia Shares Are Down 50% | Benzinga
iClick Interactive Asia Group Ltd (NASDAQ:ICLK) shares are trading lower by 54.5% to $1.15 during Friday’s session after the company announced the termination of its merger agreement with TSH Investment Holding Limited and TSH Merger Sub Limited.
Despite fulfilling the necessary conditions and indicating readiness to proceed with the closing, the Parent and Merger Sub did not finalize the process within the specified timeframe.
In response, iClick, acting upon the recommendation of a Special Committee, has exercised its right to terminate the agreement. They have demanded a termination fee of $1.8 million from the Parent. This termination means that the ...