On October 13, 2023, SilverSun Technologies, Inc. terminated the Agreement and Plan of Merger that had been in progress since September 2022, with several subsequent amendments along the way. The parties involved in this merger included SilverSun Technologies, Inc., Rhodium Enterprises Acquisition Corp., Rhodium Enterprises Acquisition LLC, and Rhodium Enterprises, Inc.
The termination of the Merger Agreement was carried out under Section 7.02(a) of the Merger Agreement itself, which allows either party to terminate the agreement by providing written notice if the merger’s closing does not occur on or before September 30, 2023.
It’s important to note that the information provided here is a high-level summary. For a more detailed understanding of the merger agreement and its amendments, you can refer to the documents themselves, which are filed as Exhibits 2.1 through 2.7 in the Current Report on Form 8-K.
It’s difficult to say what SilverSun’s next action plan may be. The merger and acquisitions market has heated up recently, so it’s possible we might see additional M&A activity involving the company though another Bitcoin reverse merger seems unlikely.