Cayson Acquisition Corp has terminated its previously announced agreement to merge with Mango Financial Group Limited. The termination was formalized on September 2, 2026, when the parties entered into a Termination Agreement. The merger agreement, originally signed on July 11, 2025, was intended to combine Cayson Acquisition Corp with Mango Financial Group Limited, North Water Investment Group Holdings Limited, and a wholly-owned subsidiary of Mango.
Under the terms of the termination, Mango Financial Group Limited has agreed to reimburse the Company for certain expenses it had previously committed to pay. In exchange, the Company will issue a promissory note to Mango for the amount of these expenses. This note will be payable without interest upon the completion of the Company’s initial business combination. If the Company lacks sufficient cash resources to repay the note at that time, it has the option to convert the principal balance into Company units at a price of $10.00 per unit. These units would be identical to the private units sold during the Company’s initial public offering.
The Company and Mango also agreed that any other promissory notes previously issued by the Company to Mango will be similarly convertible if the Company cannot repay the amounts due in cash. Following the termination of the merger, Cayson Acquisition Corp stated that it will resume its search for an attractive target business to consummate an initial business combination.
