Aura FAT Projects Acquisition Corp announced the expiration and termination of its business combination agreement with Allrites.
This decision follows a comprehensive evaluation of prevailing market conditions and strategic priorities.
The termination supersedes all prior terms, including the amended structure disclosed in the Form 8-K filed on January 21, 2025.
Business Combination Agreement Termination
AFAR terminates the business combination agreement with Allrites after a comprehensive evaluation.
Amended Business Combination Agreement
AFAR and Allrites executed an amended agreement on January 14, 2025, extending the end date to July 18, 2025 among other adjustments.
Company Focus
AFAR is a SPAC focused on technology-driven, high-growth companies in the Asia-Pacific region.
- The termination of the agreement affects the plans for Allrites to become a publicly listed company.
- AFAR's strategic priorities and market conditions played a significant role in the decision.
The termination of the business combination agreement reflects a shift in priorities and strategic direction for Aura FAT Projects Acquisition Corp. This decision marks a significant development for both companies involved.