VELO - SPAC Velocity Acquisition BBQGuys terminate business combination

SPAC Velocity Acquisition  (NASDAQ:VELO) and online retailer of grills and outdoor kitchens BBQGuys public agreed to mutually terminated their merger agreement. The parties decided to end the business combination due to current supply chains issues impacting the results of BBQGuys business and timing of the close of the transaction, according to a statement. Velocity and BBQGuys, which counts NFL greats Eli Manning, Peyton Manning and their father Archie Manning as minority investors, originally announced a deal in July.  Also see yesterday, Self-driving truck co. Plus, SPAC Hennessy Capital terminate deal on regulatory issues.

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SPAC Velocity Acquisition, BBQGuys terminate business combination