A St. Petersburg-based special purpose acquisition company is terminating a merger agreement two months after inking the deal. Isleworth Healthcare Acquisition Corp. (Nasdaq: ISLE) and Aventura-based Cytovia Holdings Inc. agreed to the mutual termination agreement on June 30 after both companies’ boards of directors determined the merger would not be in stockholders’ best interests, according to documents filed with the U.S. Securities and Exchange Commission. SPAC mergers have been upended by market turmoil, with at least four deals falling through within a 24-hour period at the start of the month as the S&P 500 slipped into bear market territory for the first time since March 2020, according to Bloomberg SPAC Research.
Isleworth Healthcare Acquisition Corporation (Nasdaq: ISLE)("Isleworth"), a special purpose acquisition company, today announced that it has entered into an agreement with Cytovia Holdings, Inc. ("Cytovia"), a biopharmaceutical company empowering natural killer (NK) cells to fight cancer through stem cell engineering and multispecific antibodies (the "Termination Agreement") to terminate its previously announced Merger Agreement with Cytovia, which was executed in April 2022. The Termination Agr
Cytovia Therapeutics, Inc., a biopharmaceutical company empowering natural killer (NK) cells to fight cancer through stem cell engineering and multispecific antibodies, announced today that the novel data it is presenting at the European Hematology Association's annual congress in Vienna, Austria on June 10th, 2022 is now available on both the EHA and Cytovia websites.