ARYD - Amicus SPAC ARYA mutually terminate business combination for Caritas Therapeutics

ARYA Sciences Acquisition Corp IV (NASDAQ:ARYD) and Amicus Therapeutics (NASDAQ:FOLD) mutually agreed to terminate their previously announced business combination agreement due to existing market conditions, effective immediately. In September 2021, Amicus Therapeutics said it planned to launch a next-generation genetic medicine company Caritas Therapeutics through a business combination agreement with ARYA, with an expected initial funding of ~$400M. “While this is not the outcome we had hoped for, ARYA IV still has over a year remaining to identify and execute on a business combination transaction and the ARYA IV team believes it is well positioned to identify and execute on an opportunity that meets its key investment criteria and that can deliver value for its shareholders within that time period,” said CEO Adam Stone. Neither company will be required to pay the other a termination fee. ARYA IV’s dissolution deadline is March 2, 2023, unless it is is extended in accordance with ARYA IV’s

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Amicus, SPAC ARYA mutually terminate business combination for Caritas Therapeutics