HZON - Horizon Acquisition rises 12% on terminating merger agreement with Flexjet

April, 11 2023 05:29 PM Horizon Acquisition Corporation II Class A

2023-04-11 17:29:42 ET

SPAC firm Horizon Acquisition ( NYSE: HZON ) said it had agreed to terminate its agreement to acquire Flexjet.
( HZON ) is trading 12% higher .
Flexjet will pay a termination payment of about $30M fto Horizon, under the terms.
Horizon expects to redeem all of its outstanding Class A shares for a redemption price of about $11.33 per share
Horizon expects the NYSE to file a Form 25 with the Securities and Exchange Commission (SEC) to delist its securities.
An affiliate of Eldridge Industries, owns 87.7% of Horizon’s Class A shares and 100% of Horizon’s Class B ordinary shares.
The merger agreement was signed on October 11, 2022.
Press Release

For further details see:

Company Name:	Horizon Acquisition Corporation II Class A
Stock Symbol:	HZON
Market:	NYSE