Heidmar Inc. Announces Termination of Merger Agreement
04 Oktober 2023 - 10:10PM
Heidmar Inc. (the “Company”) announced today that it has terminated
the Business Combination Agreement dated March 19, 2023 (as
amended, the “Business Combination Agreement”) between the Company,
Home Plate Acquisition Corporation (NASDAQGM: HPLT), a
publicly-listed, special purpose acquisition company (“Home
Plate”), Heidmar Marine Inc., Home Plate Sponsor LLC, HP Merger
Subsidiary Corp. and certain shareholders of the Company party
thereto, pursuant to Sections 11.1(b) and 11.1(d) of the Business
Combination Agreement.
In conjunction with the termination of the
Business Combination Agreement, each of the Ancillary Documents (as
defined in the Business Combination Agreement) has also been
terminated in accordance with their respective terms.
Market conditions were not conducive to the
contemplated equity raise and the Company terminated the Business
Combination Agreement pursuant to its terms. The Company remains
focused on growing its tanker and dry bulk commercial management
and pooling business organically while the launch into technical
ship management is also proceeding as per plan with ongoing
discussions with potential partners.
About Heidmar Inc.
Heidmar is an Athens based, first-class
commercial and pool management business servicing the crude and
product tanker market and is committed to safety, performance,
relationships and transparency. Heidmar has a reputation as a
reliable and responsible partner with a goal to maximizing our
customer’s profitability. Heidmar seeks to offer vessel owners a
“one stop” solution for all maritime services in the crude oil,
refined petroleum products and dry bulk shipping sectors. Heidmar
believes its unique asset light business model and extensive
experience in the maritime industry allows the Company to achieve
premier market coverage and utilization, as well as providing
customers in the sector with seamless commercial transportation
services.
https://www.heidmar.com/
Contacts
Investor Relations / Media Nicolas Bornozis
Markella Kara Capital Link, Inc. Tel +1-212-661-7566
heidmar@capitallink.com
Forward Looking Statements
Certain statements herein may be considered
forward-looking statements within the meaning of U.S. federal
securities law, which include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts. Such forward looking statements are
subject to risks, uncertainties and other factors which could cause
actual results to differ materially from those expressed or implied
by such forward looking statements.
These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as,
and must not be relied on, by any investor as a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability.
Nothing in this press release should be regarded
as a representation by any person that the forward looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward looking statements will be
achieved. You should not place undue reliance on forward looking
statements, which speak only as of the date they are made. Heidmar
does not undertake any duty to update or revise these forward
looking statements.
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