Crypto Asset Manager ReserveOne Terminates $1 Billion SPAC Merger with M3-Brigade

BTC-1.83%
According to Bloomberg, crypto asset manager ReserveOne terminated its $1 billion merger with SPAC M3-Brigade Acquisition V Corp. (MBAV) on June 19. The deal collapse came roughly one year after the merger was initially announced, as investors cited significant Bitcoin price declines that would have resulted in the company's stock trading below net asset value upon listing.
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