Mountain & Co. I Acquisition Corp. and Barça Media Announce Termination of Business Combination Agreement

Rhea-AI Summary

Mountain & Co. I Acquisition Corp. (Mountain) and FC Barcelona (Barça) announced the termination of their Business Combination Agreement dated August 11, 2023.

The decision, effective June 28, 2024, was mutually reached to allow Barça Media to focus on near-term business opportunities independently. Both parties believe that these opportunities are best addressed within a private structure, and Barça Media is projected to experience substantial growth as a result.

Positive

• Termination allows Barça Media to focus on private business opportunities.
• Projection of substantial growth for Barça Media by pursuing opportunities independently.

Negative

• Termination of the agreement may indicate a lack of synergy or alignment between Mountain and Barça.

BARCELONA, Spain and NEW YORK, June 28, 2024 /PRNewswire/ -- Mountain & Co. I Acquisition Corp. ("Mountain") and FC Barcelona ("Barça") jointly announce the termination of the Business Combination Agreement ("Agreement") dated August 11, 2023. The decision to terminate the Agreement stems from the joint decision to focus on near-term business opportunities, which are best addressed in a private structure. The parties have agreed that Barça standalone, without Mountain, shall fully concentrate on leveraging such business opportunities, which are projected to substantially drive growth for Barça Media.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to MCAA and FC Barcelona. In some cases, you can identify forward-looking statements by the following words: "budget," "may," "will," "could," "would," "should," "forecast," "future," "might," "outlook," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans as they relate to the proposed transaction, are also forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Most of these factors are outside MCAA's and FC Barcelona's control and are difficult to predict. Forward-looking statements in this communication include, but are not limited to, statements regarding the identification of a target business and a potential business combination or other such transaction. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, those included under the heading "Risk Factors" in the annual report on Form 10-K for year ended December 31, 2023 of MCAA and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC.

CONTACT: Alexander Hornung, ah@mountain.partners

View original content:https://www.prnewswire.com/news-releases/mountain--co-i-acquisition-corp-and-barca-media-announce-termination-of-business-combination-agreement-302185967.html

SOURCE Mountain & Co. I Acquisition Corp.

FAQ

Why did Mountain & Co. I Acquisition Corp. terminate the agreement with Barça Media?

The agreement was terminated to allow Barça Media to focus on near-term business opportunities independently, which are projected to drive substantial growth.

What is the expected impact of the termination on Barça Media?

Barça Media is expected to substantially grow by pursuing near-term business opportunities independently.

When was the Business Combination Agreement between Mountain & Co. I Acquisition Corp. and Barça Media terminated?

The agreement was terminated on June 28, 2024.

What was the original date of the Business Combination Agreement between Mountain & Co. I Acquisition Corp. and Barça Media?

The original agreement was dated August 11, 2023.

How might the termination of the agreement affect MCAA's stock performance?

The termination may affect investor sentiment due to potential perceived lack of synergy or alignment between Mountain and Barça.