SPAC FoxWayne Enterprises Acquisition Corp. (NASDAQ:FOXW) and live streaming dating platform Clover have mutually terminated their planned merger.
FoxWayne announced the termination in an SEC filing. The companies first announced plans to merge in September, with the deal valuing Clover at $158M. The closing was expected in Q1.
Incorporated in Ontario, Clover is a provider of streaming content aimed at Gen Z and Millennials. The company operates a live streaming dating platform, with plans to launch virtual reality dating in Q4.
FoxWayne had been slated to merge with respiratory treatment developer Aerami Therapeutics in early 2022. The companies mutually terminated the deal in March.