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SDCL EDGE Acquisition Corp (NYSE:SEDA), a blank check company, announced on Monday that its previously disclosed business combination agreement with Specialty Copper Listco Plc and other parties has been terminated as of July 2, 2024. The agreement, initially entered into on February 20, 2024, was intended to facilitate a merger and allow for the listing of the combined entity on the New York Stock Exchange.
The termination occurred automatically according to the terms of the agreement, rendering the agreement and related contracts non-binding. Despite the termination, SDCL EDGE Acquisition Corp has communicated its intention to continue pursuing the business combination with revised financing terms to reflect market feedback. The company will provide updates on the revised terms if and when they become available.
SDCL EDGE Acquisition Corp had previously announced an extension of its deadline to complete an initial business combination from July 2, 2024, to August 2, 2024, with the potential for further monthly extensions up to November 2, 2024. This extension was aimed at providing sufficient time to meet the conditions of the original business combination agreement and complete the NYSE listing process.
The termination of this agreement and ongoing negotiations indicate a dynamic phase for SDCL EDGE Acquisition Corp as it seeks to finalize a business combination in a challenging market environment. The company's filings with the SEC, including its Annual Report for the year ended December 31, 2023, provide additional details about its directors, officers, and securities.
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