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By Will Feuer
New Quantum, an Australian software supplier to financial-services firms, has scrapped its planned merger with special-purpose acquisition company Canna-Global Acquisition, the blank-check firm disclosed in a securities filing.
Canna-Global said it received written notice earlier this week saying that New Quantum had terminated the deal. Canna-Global will evaluate other potential merger targets, the SPAC said.
New Quantum didn’t immediately respond to a request for comment.
The companies announced the merger in June. The deal would have taken New Quantum public in the U.S. and given the company an $800 million pro forma enterprise valuation.
Write to Will Feuer at [email protected]
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