GRAND
CAYMAN, Cayman
Islands, Sept. 30, 2024 /PRNewswire/ -- Blockchain
Coinvestors Acquisition Corp. I (Nasdaq: BCSA) ("BCSA"), a
blank-check company formed for the purpose of acquiring or merging
with one or more businesses, today announced that its business
combination agreement with Linqto, Inc. ("Linqto") has been
terminated.
As previously announced, on April 9,
2024, Blockchain Coinvestors Acquisition Corp. I, a
Cayman Islands exempted company
("BCSA"), entered into a Business Combination Agreement (the
"Business Combination Agreement"), by and among BCSA, Linqto and
BCSA Merger Sub I, Inc.
On September 26, 2024, Linqto
delivered to BCSA a notice of termination of the Business
Combination Agreement pursuant to Section 7.2(a) thereof, effective
the same day.
In connection with the termination of the Business Combination
Agreement and pursuant to Section 7.2(b) thereof, Linqto agreed to
pay BCSA a termination fee of $5.0
million promptly but in no event later than 30 days
following the date of termination.
About Blockchain Coinvestors Acquisition Corp. I
BCSA is a special purpose acquisition company formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization, or similar business combination
with one or more businesses or entities. BCSA is led by Chairman
and Managing Director Matthew Le
Merle, Chief Executive Officer and Managing Director
Lou Kerner, Managing Director
Alison Davis, and Chief Financial
Officer Mitchell Mechigian.
Participants in the Solicitation
BCSA and its directors, executive officers, other members of
management and employees may, under SEC rules, be considered
participants in the solicitation of proxies of BCSA's shareholders
in favor of the approval of the proposals to be voted on at the
Extraordinary General Meeting. Investors and security holders may
obtain more detailed information regarding the names, affiliations
and interests of BCSA's directors and officers in the Proxy
Statement, which may be obtained free of charge at from the sources
indicated below.
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities and
does not constitute an offer to sell or a solicitation of an offer
to buy any securities, nor will there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities will be made except by means
of a prospectus meeting the requirements of the Securities Act of
1933, as amended, or an exemption therefrom.
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "believe," "may," "will," "estimate,"
"continue," "anticipate," "intend," "expect," "should," "would,"
"plan," "predict," "potential," "seem," "seek," "future," "outlook"
and similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
statements are based on the current expectations of BCSA's
management and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on,
by any investor as a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. These statements are subject to a number
of risks and uncertainties indicated from time to time in BCSA's
filings with the SEC. There may be additional risks that BCSA
presently does not know or that BCSA currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements provide BCSA's expectations, plans or
forecasts of future events and views as of the date of this
communication. BCSA anticipates that subsequent events and
developments will cause BCSA's assessments to change. However,
while BCSA may elect to update these forward-looking statements at
some point in the future, BCSA specifically disclaims any
obligation to do so. These forward-looking statements should not be
relied upon as representing BCSA's assessments as of any date
subsequent to the date of this communication. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
Contact
Blockchain Coinvestors Acquisition Corp. I:
Vaibhav Kumar
RFB | Peaks Strategies
vaibhav.kumar@rfbinder.com
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SOURCE Blockchain Coinvestors Acquisition Corp. I