Forest Road Acquisition Corp. II and HyperloopTT Announce Termination of Merger Agreement
2023年2月4日 - 7:00AM
ビジネスワイヤ(英語)
Hyperloop Transportation Technologies (“HyperloopTT” or “the
Company”), a leading transportation and technology licensing
company focused on realizing the hyperloop, and Forest Road
Acquisition Corp. II (NYSE: FRXB, FRXB.WS, and FRXB.U) (“Forest
Road”), a publicly-traded special purpose acquisition company, have
mutually agreed to terminate their previously announced business
combination agreement.
Considering the significant time to close the business
combination, coupled with prevailing market conditions, both
parties decided that terminating the agreement is in the best
interest of their respective shareholders and employees.
“While we believe the proposed combination would have
accelerated time to market for HyperloopTT’s leading hyperloop
technology, we remain committed to the prospects for our company,
its transformational transportation technology, and the underlying
business opportunity at hand,” said Andres de Leon, Chief Executive
Officer of HyperloopTT. “I wish to thank HyperloopTT employees and
contributors for their unwavering dedication and commitment
throughout this process. Moving forward, we will continue to
evaluate financing alternatives, including both public and private
capital raises.”
Tom Staggs and Kevin Mayer, Co-CEOs and Co-Chairpersons of the
Board of Directors of Forest Road, commented, “While we maintain
our belief that HyperloopTT’s technology has the potential to
address some of today’s most profound transportation challenges,
persistent negative market conditions, coupled with our upcoming
expiration date, made the execution of our proposed business
combination challenging. We wish Andres and his team all the best
in their continued efforts to modernize transportation and
positively impact our world.”
About HyperloopTT
Hyperloop Transportation Technologies (www.hyperlooptt.com,
“HyperloopTT”) is an innovative transportation and technology
company focused on realizing the hyperloop, a system that moves
people and goods safely, efficiently, and sustainably by bringing
airplane speeds to the ground. Through the use of unique, patented
technology and a collaborative business model, HyperloopTT is
creating a potential new form of transportation.
HyperloopTT’s European Research and Development Center in
Toulouse, France, the aerospace capital of Europe, is home to a
full-scale test system. In 2019, HyperloopTT released the first
comprehensive feasibility study analyzing a hyperloop system, which
found that the system is economically and technically feasible and
will generate a profit without requiring government subsidies.
Founded in 2013, HyperloopTT is a global network of more than
800 engineers, creatives, and technologists, with 50 corporate and
university partners. Headquartered in Los Angeles, CA, and
Toulouse, France, HyperloopTT has offices in North and South
America, the Middle East, and Europe.
HyperloopTT is a proud signatory of the United Nations Global
Compact, reflecting the company’s commitment to the UN Sustainable
Development Goals.
About Forest Road Acquisition Corp. II
Forest Road Acquisition Corp. II, a blank check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization, or similar
business combination with one or more businesses, raised $350
million in March 2021 and its securities are listed on the NYSE
under the tickers “FRXB” and “FRXB WS.”
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
statements that are not historical facts. Such forward-looking
statements are subject to risks and uncertainties, many of which
are beyond the control of the Company or Forest Road, including
those set forth in the Risk Factors section of Forest Road’s
registration statement and final prospectus for the initial public
offering filed with the SEC, and each of which could cause actual
results to differ from the forward-looking statements. Copies are
available on the SEC’s website, www.sec.gov. The Company and Forest
Road expressly disclaim any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s or Forest
Road's expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
No Offer or Solicitation
This communication shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the Business Combination. This communication shall
also not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act, or an exemption therefrom.
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version on businesswire.com: https://www.businesswire.com/news/home/20230203005314/en/
Investor Relations: HyperloopTT@spacroadtwo.com
Media: Media@spacroadtwo.com
Forest Road Acquisition ... (NYSE:FRXB)
過去 株価チャート
から 11 2024 まで 12 2024
Forest Road Acquisition ... (NYSE:FRXB)
過去 株価チャート
から 12 2023 まで 12 2024