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:
Horizon Acquisition rises 12% on terminating merger agreement with Flexjet