ARYA Sciences SPAC dips after ending deal with Amicus

Adagio Medical Holdings

24/02/2022 15:20

** Shares of ARYA Sciences Acquisition Corp IV  ARYD.O  lose
1% to $9.81 amid a decline in broader markets
    ** SPAC agrees to terminate deal to merge with a unit of
biotech Amicus Therapeutics Inc  FOLD.O   urn:newsml:reuters.com:*:nGNX7ydwPR
    ** Cites "existing market conditions" as reason behind
decision
    ** No party will be required to pay termination fee, co says
    ** SPAC, which raised $149 mln in its share offering last
year, has until March 2023 to search for another merger partner
    ** Under terms of original deal, Amicus would have spun off
its genetic medicine business into separate entity with $400 mln
expected in initial funding
    ** On Thursday, Wall Street's main indexes tumbled after
Russia launched an invasion of Ukraine 
    
    

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))