FinTech V, a publicly traded special purpose acquisition company, and eToro , the social investing network, have agreed to terminate their previously announced plan of merger. The proposed merger, initially announced in March 2021, was conditioned on the satisfaction of certain closing conditions, including relating to the eToro’s registration statement, within the timeframe outlined by the merger agreement.

Despite the parties’ best efforts, such conditions were not satisfied within such time frame and the parties were unable to complete the transaction by the 30 June 2022 deadline. Neither party will be required to pay the other a termination fee as a result of the mutual decision to terminate the merger agreement.