MDH Acquisition Corp. and Olive Ventures Holdings, Inc. Mutually Agree to Terminate Business Combination Agreement
April 04 2022 - 9:57PM
Business Wire
MDH Acquisition Corp. (NYSE: MDH, MDH.WS, MDH.U), a special
purchase acquisition company with a focus on growth industries
complementing the management team’s background, and Olive Ventures
Holdings, Inc. (“olive.com”), the leader in payment services and
online vehicle protection plans, announced today that the companies
have mutually agreed to terminate their previously announced
agreement and plan of merger (the “Business Combination
Agreement”), effective immediately.
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Franklin McLarty, Executive Chairman of MDH Acquisition
Corp., said: “We have tremendous admiration for the entire
olive.com team. The company’s impressive growth and
disruption of the vehicle protection space is truly extraordinary,
and we wish them continued success in the journey ahead. The MDH
team will continue to explore opportunities to support companies
that have unrecognized value, room to grow, world-class management,
and leadership in a sector where MDH has deep expertise and
relationships.”
Rebecca Howard, Founder and CEO of olive.com, said: “Our
team is deeply grateful for MDH’s support throughout this process,
and, after much consideration, both parties have decided it is the
best long-term strategy to terminate the contemplated merger. I am
enormously proud of our team for continuing to execute on
olive.com’s strategic growth plans with a relentless focus
on providing our industry leading technology platforms and payment
solution plans to our valued clients.”
Additional information about the termination of the Business
Combination Agreement will be provided in a Current Report on Form
8-K to be filed by MDH Acquisition Corp. with the SEC and available
at www.sec.gov.
About MDH Acquisition Corp.:
MDH Acquisition Corp. (NYSE: MDH) was formed with the goal of
accelerating the growth of a private company that is well
capitalized, profitable and ready to become a publicly traded
company. MDH focuses on industries that complement the management
team’s background and proven business-building abilities. MDH is
led by Executive Chairman Franklin McLarty, Vice Chairman Jim
Wilkinson, CEO Beau Blair and CFO Brent Whittington.
About olive.com:
olive.com, the leader in payment services and online
vehicle protection plans, was built to give customers peace of
mind. Vehicle protection plans cover mechanical failure of the
vehicle after the manufacturer’s warranty has expired. With
olive.com, consumers are now able to buy a vehicle
protection plan direct, with no pressure, from the comfort of their
home. olive.com offers a range of coverage and deductible
options to suit any budget, and their products are approachable,
affordable, transparent and user-friendly – real choice, all
digital at any time day or night. Founded in 2006 and headquartered
in Chicago, Illinois, olive.com products, customer service,
and reputation for excellence have earned it an A+ rating with the
Better Business Bureau (BBB) and partnerships with leading
insurance companies and globally recognized brands. For more
information, please visit https://olive.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20220404006071/en/
MDH Acquisition Corp. Kelly Wallace
kelly@mclartydiversified.com 917-991-6308
olive.com Justin Thomas jthomas@paylinkdirect.com
773-387-0025
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