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SPAC Goldenstone Acquisition Limited (NASDAQ:GDST) and blockchain fintech Roxe Holding have mutually agreed to terminate their merger deal which had an estimated enterprise value of around $3.6B.
Goldenstone said in an SEC filing that the two companies entered into a termination agreement on Sept. 30.
Roxe Holding is a provider of blockchain-based payment solutions. The merger deal, which was expected to close during the first half of 2023, had pegged the estimated enterprise value of the combined company at around $3.6B, subject to adjustment based on a valuation that was being conducted by an independent investment bank.
Goldenstone held its initial public offering in March, raising around $58M.
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