$1.6 billion Ether Machine SPAC deal collapses over unfavorable market
CoinDesk·1h ago·Neutral
What Happened
The Ether Machine and Dynamix Corporation have terminated their planned $1.6 billion SPAC merger due to unfavorable market conditions, announced Friday. The deal aimed to take the crypto firm public on Nasdaq under ticker ETHM. The Ether Machine holds 496,712 ETH worth over $1.1 billion. The merger included $1.5 billion in PIPE financing and $170 million in trust. Dynamix receives $50 million termination payment within 15 days.
Key Entities
The Ether MachineDynamix CorporationSPAC merger$1.6 billionNasdaq496,712 ETHAndrew Keys