Aesther Healthcare Acquisition Corp. (NASDAQ: AEHA) announced this afternoon that it has mutually terminated its combination agreement with automotive component manufacturer United Gear & Assembly.
The termination comes just two weeks after AEHA secured a common stock purchase agreement and not even two months after deal announcement. And while today’s 8-K did not disclose the reason for the breakup, it is likely that unfavorable market conditions played a significant role.
Aesther originally brought an estimated $105 million into the deal from its current trust and did not supplement the deal with a PIPE, but secured a common stock purchase agreement of up to $50 million earlier this month. This purchase agreement will also be terminated upon the termination of the merger agreement.
Going forward, AEHA intends to continue to identify and pursue a business combination with an appropriate target. Additionally, AEHA still has two months left on its clock, but can automatically extend their deadline two times for three-months each by contributing $0.10 per share to trust. AEHA raised $100 million at IPO last year on September 14, 2021 and initially intended to combine with a pharmaceutical or healthcare-focused business that has strong access to transformative technology. The SPAC is led by Chairman and CEO Suren Ajjarapu and CFO and Secretary Howard A. Doss.
Aesther Healthcare announced its business combination with United Gear just several weeks ago on May 27, right before the Memorial Day weekend. Hudson, Wisconsin-based United Gear is a subsidiary of United Stars Holdings, focused on manufacturing small to medium-sized precision gears and shafts for a variety of industries.
At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...