Friday, 24 March, 2023

Prime Blockchain and 10X SPAC have ended their $1.25B merger

<p>The $1.25B merger agreement between 10X Capital Venture Acquisition Corp II and the infrastructure and crypto mining company Prime Blockchain has been amicably terminated. The termination highlights waning interest in SPACs, which were increasingly chosen by entrepreneurs seeking to avoid a conventional initial public offering. The businesses, which had previously announced their merger in April, gave no explanation for the most recent action.</p>