Horizon Acquisition Corp. II to terminate business combination deal with Flexjet

Horizon Acquisition II "announced that it has agreed to terminate its business combination agreement with Flexjet, Inc. As a result of the termination, Flexjet will remain a private company, and Horizon will liquidate its trust account and redeem all of its outstanding Class A ordinary shares. The business combination agreement was signed on October 11, 2022. The parties have signed an agreement terminating the business agreement on mutually acceptable terms. The terms include a termination payment of approximately $30 million from Flexjet to Horizon. As a result of the payment and after satisfying its liabilities for expenses and working capital loans, Horizon expects to redeem all of its outstanding Class A shares for a redemption price of approximately $11.33 per share. This is an expected increase of approximately $1.30 per share over the current $10.03 per share amount in Horizon’s trust account. In view of the deadline in Horizon’s charter documents for it to complete a business combination, Horizon will not be able to pursue an alternative business combination, and it therefore intends to liquidate as promptly as practicable and to return funds to holders of its Class A shares."