PIPE better have my money.

Malacca Straits Acquisition Company Limited (MLAC: $9.89), a publicly traded special purpose acquisition company led by CEO Kenneth Ng, and Asia Vision Network, the holding company for Vision+ and MNC Play today announced that they have mutually agreed to terminate the business combination agreement which was originally entered into on March 21, 2021.

Kenneth Ng, Chief Executive Officer of Malacca Straits, said, “While both parties have made diligent and dedicated efforts towards a successful closing of the business combination within the planned timetable, various unforeseen circumstances beyond the control of either party have precluded this. Therefore, we have concluded together with AVN that it is in the best interest of both parties to terminate our business combination agreement.”

Ade Tjendra, Chief Executive Officer of PT MNC Vision Networks Tbk, commented, “We have been working closely over the past several months with the Malacca Straits team, and while we are disappointed not to have completed this transaction as originally contemplated, we believe this is the correct decision, which was mutually and amicably reached by both parties.”

Indonesia’s Traveloka has halted talks to go public through a deal with Bridgetown Holdings Ltd. (BTWN: $10.02), a blank check-company backed by billionaires Richard Li and Peter Thiel, according to people familiar with the matter.

The board of directors of the Southeast Asian online travel giant has decided not to pursue a listing via a special purpose acquisition company now as the enthusiasm in the SPAC market has waned, the people said, asking not to be named as the matter is private. The Southeast Asian online travel company will likely explore going public via a traditional initial public offering in the U.S. instead, the people said.

If the market recovers, Traveloka may revisit talks with Bridgetown or a different SPAC, one person said. The two sides will continue to monitor the situation in the coming weeks, this person said.

Sportradar aims to raise as much as $612 million in its initial public offering, valuing the company at $8.3 billion, according to an updated prospectus filed with the Securities and Exchange Commission this morning.

The Swiss sports data giant plans to sell up to 21.85 million shares at a price between $25 and $28 a share, according to the document. At the same time, the company will sell $159 million of shares to a group of investors, headlined by Todd Boehly’s Eldridge Industries, in a concurrent private placement. The deal will accomplish Boehly’s goal of buying into Sportradar, something he was unable to execute through his special purpose acquisition company, Horizon Acquisition Corporation II (HZON: $9.76).

Sportradar has been seeking to go public since last year and had been pursued by Boehly’s SPAC for much of that time. Sportradar and Horizon II SPAC had a deal to merge and go public earlier this year, but the transaction ran head-long into the market-wide stall of the PIPE market—the bridge financing often used by SPACs to bring more cash to close a deal. With the inability to secure PIPE financing for the deal, which valued Sportradar at $10 billion, the sports data company opted for an IPO. Horizon II and Sportradar never confirmed any merger deal was in place. Sportradar declined to comment on today’s filing. Eldridge didn’t immediately return a request for comment.

Eldridge, which owns part of the Los Angeles Dodgers, DraftKings and 13 other sports-related entities, is joining with other investors—including Radcliff Management, already owner of 5.2% of Sportradar—to buy 6 million shares, or about 2%, of the business, if the IPO prices at the range midpoint of $26.50. Other investors in the private placement aren’t disclosed. Eldridge is a Connecticut-based conglomerate controlled by Boehly and includes Swiss medical device billionaire Hansjorg Weiss as an investor. Eldridge is an investor in PMRC, the joint venture between publishing companies MRC and Sportico parent Penske Media Corp.