(Boursier.com) — The SPAC eureKING abandons its Initial Business Combination (IBC) with Skyepharma Production SAS (Skyepharma) and, consequently, its proposed acquisition of SCT Cell Manufacturing sro (SCTbio).
The discussions announced on October 9 to modify the structure of the two acquisitions have not been successful at this stage. It also appears impossible to extend, beyond October 31, the deadline by which the Proposed IBC with Skyepharma must be carried out under the conditions provided for by the company’s statutes.
Some of the conditions precedent provided for in the sale and acquisition contract cannot be satisfied. Consequently, the Board of Directors decided to convene, for November 28, an Extraordinary General Meeting to decide on the dissolution of the company. Following this decision, the company will be liquidated.
The Combined General Meeting of shareholders of the company, scheduled for October 27, to approve the two acquisitions, becomes irrelevant and will therefore not be held.
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