05:55 PM EDT, 06/25/2024 (MT Newswires) -- Twelve Seas Investment (TWLVW) said Tuesday the planned business combination with Crystal Lagoons US and CL Newco was terminated by Crystal Lagoons.

The conditions of the initial business combination were not satisfied or waived by the outside date of May 31, Twelve Seas said.

Twelve Seas, a blank-check company, said it will not seek an alternative business combination.