QOMPLX, a cloud-native leader in risk analytics, and Tailwind Acquisition Corp. (TWND), a special purpose acquisition company, announced that both companies have mutually agreed to terminate their business combination agreement (“Agreement”), effective immediately.
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“The reason for the mutual decision lies with market conditions preventing certain of the closing conditions from being satisfied”
The proposed business combination, announced in March 2021, was conditioned on the satisfaction of certain closing conditions within the timeframe contemplated by the Agreement.
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“The reason for the mutual decision lies with market conditions preventing certain of the closing conditions from being satisfied,” said Philip Krim, chairman of Tailwind Acquisition Corp. “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.”
“QOMPLX remains confident in the strong underlying fundamentals of our business: the rapid growth of the cybersecurity and risk analytics market, our best-in-class product offerings, and our talented team,” said Jason Crabtree, CEO of QOMPLX. “We look forward to QOMPLX’s bright future of continued growth.”
Neither party will be required to pay the other a termination fee as a result of the mutual decision to terminate the Agreement.
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