Bannix Acquisition Corp. terminates Business Combination Agreement with EVIE Group

Bannix Acquisition Corp.

Termination effective March 11, 2024 due to EVIE Group's failure to provide required loan under Section 5.21.
Initial loan demand notices sent Jan 12 and Feb 22, 2024; later withdrawn before final termination.
No termination penalties payable by Bannix under the agreement.
Sponsor Letter Agreement and Transaction Support Agreement automatically terminated as a result.
Bannix had agreed to issue 85M shares to acquire EVIE Group; deal now abandoned.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bannix Acquisition Corp. terminated Business Combination Agreement with EVIE Autonomous Group Ltd. and the shareholder of the EVIE Group (effective 2024-03-11).

Action: termination
Agreement: merger
Counterparty: EVIE Autonomous Group Ltd. and the shareholder of the EVIE Group
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024, Bannix sent EVIE Group and the EVIE Group Shareholder a notice providing that the Business Combination Agreement has been terminated as a result of the failure of EVIE Group and the EVIE Group Shareholder to loan or procure a loan to Bannix as required pursuant to Section 5.21 of the Business Combination Agreement.

View on SEC.gov

565 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001731122-24-000411

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.