DiaCarta terminated the $460m SPAC merger with HH&L Acquisition.

DiaCarta, a precision molecular diagnostics company and developer of novel oncology and infectious disease tests, terminated the $460m SPAC merger with HH&L Acquisition, a publicly traded special purpose acquisition company. “HH&L’s allegations are false and baseless, and the company rejects them in their entirety. We have worked diligently and in good faith to consummate the parties’ transaction and the company has fulfilled all its obligations and duties under the Agreement. The company reserves all rights and remedies, whether under the Agreement or otherwise, with respect to the SPAC, its sponsor, its control persons and principals, and all others acting with or in concert with the SPAC and waives none. It is unfortunate that our arrangement with the SPAC has come to this, however, DiaCarta has a bright future, and we continue to be focused on realizing the full potential of our superior technology for the benefit of our partners and patient population,” Adam (Aiguo) Zhang, DiaCarta CEO.