EdtechX Holdings Acquisition Corp. II shares slid 20% to $12.60 after it terminated its merger with zSpace Inc.
The company said in a Securities and Exchange Commission filing that it terminated the agreement due to alleged breaches by zSpace of the terms of the agreement.
The merger agreement had provided for the parties to enter into a business combination transaction where zSpace would have become a wholly owned subsidiary of EdtechX, with the stockholders of zSpace becoming stockholders of the company.