By Ben Glickman
Arogo Capital Acquisition terminated its merger agreement with EON Reality, a virtual reality company.
The Miami Beach, Fla.-based special-purpose acquisition company said that it would pursue an alternative business combination.
The blank-check company has until Dec. 29, 2024, to complete a combination after its board of directors approved a one-year extension in September.
Arogo initially entered the merger agreement with EON in April 2022, in a deal that gave EON a pro forma enterprise value of $655 million.
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