Pathfinder Acquisition Corporation and Service Max, Inc. Mutually Agree to Terminate the Business Combination Agreement Due to Market Conditions



PLEASURE and PALO ALTO, California, December 6, 2021 / PR Newswire / – Pathfinder Acquisition Corporation (NASDAQ: PF DR) (“Pathfinder”), a publicly traded special purpose acquisition company co-sponsored by subsidiaries of HG and Industry Ventures, and Service Max, Inc. (” Max Service “). Neither party will be required to pay the other termination fees as a result of the mutual decision to terminate the Business Combination Agreement.

In light of the mutual decision to terminate the Business Combination Agreement, Pathfinder canceled the extraordinary general meeting of its shareholders, which was to be held on December 7, 2021, for the purpose of voting on the Business Combination Agreement and related transactions.

Pathfinder intends to continue to pursue the completion of a business combination prior to its termination deadline. February 19, 2023 (unless this date is extended in accordance with Pathfinder’s governing documents).

About Pathfinder
Pathfinder is a specially crafted partnership between the affiliates of two investment firms with a strong track record of success as investors in technology and technology-driven companies: HG, a leading private equity firm in the middle market based in Palo Alto, and Industry Ventures, a leading multi-strategy venture capital platform based in San Francisco. Pathfinder’s corporate goal is to identify and execute a business combination with a high quality, growth-oriented private company in the tech industry that Pathfinder believes can be successful as a company. open and generate attractive returns for shareholders over the long term.

About Service Max
Service Max’s mission is to help customers make the world work with asset-centric, onsite service management software. As a recognized leader in this field, Service Max’s mobile apps and cloud-based software provide a comprehensive view of assets to on-premises service teams. By optimizing field service operations, customers across industries can better manage service complexities, support faster growth, and run more profitable, results-driven businesses.

Forward-looking statements
This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which are based on beliefs and assumptions and on information currently available to Pathfinder. In some cases, you can identify forward-looking statements by the following words: “may”, “will”, “may”, “should”, “should”, “expect”, “intend”, “foresee”, “anticipate,” “believe”, “estimate”, “predict”, “project”, “potential”, “continue”, “in progress”, “target”, “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statement that refers to expectations, projections or other characterizations of future events or circumstances are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from the information expressed or implied by such forward-looking statements. Pathfinder cannot assure you that any forward-looking statements contained in this communication will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties, including those included under the heading “Risk Factors” in the final prospectus filed by Pathfinder on February 18, 2021 relating to Pathfinder’s initial public offering and in its subsequent periodic reports and other quarterly filings with the SEC. In light of the material uncertainties in these forward-looking statements, you should not take such statements as a representation or warranty by Pathfinder, Service Max, their respective directors, officers or employees or any other person that Pathfinder will achieve its objectives and plans in the end. ‘any specified timeframe, or none at all. The forward-looking statements contained in this communication represent the views of Pathfinder as of the date of this communication. Later events and developments may change this view. However, although Pathfinder may choose to update these forward-looking statements at some time in the future, there is currently no intention to do so, except to the extent required by applicable law. You should therefore not rely on any such forward-looking statements as representing the views of Pathfinder as of a date subsequent to the date of this communication.

(PRNewsfoto / Pathfinder Acquisition Corporation)

ServiceMax Logo (PRNewsfoto / Pathfinder Acquisition Corporation)

ServiceMax Logo (PRNewsfoto / Pathfinder Acquisition Corporation)



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SOURCE Pathfinder Acquisition Corporation



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