Abri SPAC I, Inc. Announces Termination of Merger Agreement with Apifiny Group Inc.

Rhea-AI Summary

Abri SPAC I, Inc. (NASDAQ: ASPA) has terminated its merger agreement with Apifiny Group Inc. by mutual consent. This decision opens the door for Abri to pursue alternative business combinations. Abri is focused on finding opportunities that deliver technological innovations, particularly in financial services. The company remains committed to identifying a suitable target to enhance its value proposition in the market.

Positive

• Abri SPAC I is actively seeking alternate business combinations following the termination of the merger with Apifiny.
• The company continues to pursue prospective targets that offer technological innovation in the financial services sector.

Negative

• Termination of the merger agreement with Apifiny may indicate challenges in securing business combinations.
• The search for a new target may result in delays or uncertainty regarding future business operations.

NEW YORK--(BUSINESS WIRE)-- Abri SPAC I, Inc. (NASDAQ: ASPA) (the “Company” or “Abri”), a special purpose acquisition company, announced today that it has terminated its previously announced agreement and plan of merger (the “Merger Agreement”) with Apifiny Group Inc. (“Apifiny”), by mutual agreement of all relevant parties. As a result, Abri will seek an alternative business combination.

About Abri SPAC I, Inc.

Abri is a blank check company formed for the purpose of effecting a business combination with one or more businesses. Although there was no restriction or limitation on what industry or geographic region its targets operated in, Abri pursued prospective targets that provide technological innovation in a range of traditionally managed industries with particular emphasis on the financial services industry. For more information, visit https://abri-spac.com/

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220725005719/en/

Jeffrey Tirman

Chief Executive Officer

Abri SPAC I, Inc.

Tel: +1 (424) 732-1021

Source: Abri SPAC I, Inc.

FAQ

Why did Abri SPAC I terminate the merger with Apifiny Group Inc.?

The termination was by mutual agreement between both parties.

What is the next step for Abri SPAC I after the merger termination?

Abri SPAC I will seek alternative business combinations.

What is the focus of Abri SPAC I in pursuing new business opportunities?

The company is focused on technological innovations, especially in the financial services industry.

How might the termination of the merger impact Abri SPAC I's stock?

The impact on the stock will depend on the company's ability to secure a new, favorable business combination.