Merger CHPM

Accelus and CHP Merger Corp. Mutually Agree To Terminate Business Combination


Accelus, a privately held medical technology company focused on accelerating the adoption of minimally invasive surgery (MIS) as the standard of care in spine, and CHP Merger Corp. (NASDAQ: CHPM), announced today that the companies have mutually agreed to terminate, effective immediately, the previously announced business combination agreement dated November 14, 2021 as a result of market conditions.

CHP has determined to liquidate and distribute to the holders of common stock issued in its initial public offering that have not previously redeemed their shares their pro-rata portion of the funds held in the trust account established for the benefit of such stockholders, which will be an amount equal to the aggregate amount on deposit in the trust account, including any amounts representing interest earned on the trust account then held therein.

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