MAK Acquisition Corp. Delivers Notice of Breach to UniUni
News related to:MAK Acquisition Corp · 2 min read
TORONTO, Sept. 24, 2026 /CourierPR/ -- MAK Acquisition Corp., a special purpose acquisition corporation focused on niche-market businesses, has delivered a notice of breach to UniExpress Inc., commonly known as UniUni, following a deterioration in the latter’s business and financial performance since the announcement of a proposed reverse takeover by MAK.
According to the press release, MAK believes that UniUni has breached the terms of the Purchase Agreement, which governs the proposed reverse takeover. The agreement stipulates that UniUni must operate its business within certain specified parameters, including a defined maximum cumulative pre-tax loss. Since the announcement of the proposed transaction, UniUni’s performance has fallen short of these expectations, leading MAK to deliver the notice of breach.
The delivery of the notice of breach triggers a 15 business day cure period, during which UniUni has the opportunity to rectify the breach. If UniUni fails to do so within this timeframe, MAK intends to exercise its rights to terminate the Purchase Agreement.
MAK Acquisition Corp. completed its initial public offering in October 2025, and its securities are listed on the Toronto Stock Exchange under the symbols “MAK.U” and “MAK.WT”. The company is an exempted company formed under the laws of the Cayman Islands and operates with a focus on businesses that provide critical solutions, have strong revenue retention, and diversified customer bases.
The forward-looking information contained in the press release highlights the risks and uncertainties associated with the strategic review process. These include the possibility that the process may not result in a transaction on suitable terms, or at all. MAK Acquisition Corp. advises investors to be aware of these risks and uncertainties, which may impact the company’s future operations and financial performance.
In summary, the notice of breach delivered by MAK Acquisition Corp. to UniUni Inc. marks a significant development in the proposed reverse takeover, with potential implications for both companies involved. The 15 business day cure period offers UniUni a chance to address the breach, while MAK retains the option to terminate the agreement if the issue is not resolved.