10:33 AM EDT, 08/22/2024 (MT Newswires) -- Israel Acquisitions ( ISRL ) and Pomvom agreed to terminate their merger agreement "due to the change in global market conditions," the companies said Thursday.

The companies agreed not to pursue any claims or demands against each other, except in violations of the termination agreement or confidentiality obligations.

"The current state of the capital markets does not allow for the transaction to proceed at this time based on the same financial parameters that had been agreed upon originally," the companies said.