Tailwind and QOMPLX reached a mutual agreement to terminate their business combination arrangement, effective immediately. This combination was announced in March 2021, pending the satisfaction of “certain closing conditions” within a specified timeframe.
“The reason for the mutual decision lies with market conditions preventing certain of the closing conditions from being satisfied,” said Philip Krim, Tailwind Chairman. “Although this is not the outcome we had hoped for, we remain optimistic in the growing cybersecurity and risk analytics industry and will continue to seek to identify opportunities that can capture value for shareholders.”
Neither party will pay a termination fee. Tailwind Acquisition Corporation noted that, in light of the announcement, it has cancelled its August 17th special meeting of shareholders to approve the deal.
