NEW YORK, May 14, 2024 /PRNewswire/ -- Relativity
Acquisition Corp. ("Relativity") announced today that the Company
had elected to terminate the Business Combination Agreement by and
among Relativity and SVES LLC, SVES GO, LLC, SVES CP LLC and
SVES Apparel LLC (collectively, "SVES"), dated as of February 13, 2023, as amended on February 14, 2024 (the "Business Combination
Agreement"), effective immediately, pursuant to Section 8.1(a)
thereof, mutual consent (the "Termination"). As a result, the
Business Combination Agreement is of no further force and effect,
with the exception of certain specified provisions in the Business
Combination Agreement, which shall survive the Termination and
remain in full force and effect in accordance with their respective
terms. The Company and its Sponsor intend to seek alternative ways
to consummate an initial business combination.
About Relativity Acquisition Corp.
Relativity Acquisition Corp. is a blank check company sponsored
by Relativity Acquisition Sponsor LLC, a Delaware limited liability company, formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses.
About SVES
SVES LLC, SVES GO, LLC, SVES CP LLC and SVES Apparel LLC
(collectively, "SVES") is a leading wholesale distributor of
discount and off-price fashion. SVES delivers differentiated
garment and accessory assortments to major off-price retailers in
North America and Europe. The SVES management team is led by
off-price industry veterans, including Co-Founders Timothy J.
Fullum and Salomon Murciano.
Forward-Looking Statements
This press release may include, and oral statements made from
time to time by representatives of the Company may include,
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements regarding
possible business combinations and the financing thereof, and
related matters, as well as all other statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the Securities and Exchange
Commission ("SEC"). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement and
prospectus for the Company's initial public offering and the
Company's annual or quarterly reports or proxy statement filed with
the SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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SOURCE Relativity Acquisition Corp.