Zip Co Limited and Sezzle Inc terminate the merger agreement for Zips Proposed Acquisition of Sezzle

Zip Co Limited (ASX: ZIP) announced that both Zip Co Limited and Sezzle Inc have agreed to terminate their previously announced merger agreement for the proposed acquisition of Sezzle by Zip, due to current macroeconomic and market conditions.

The company remains focused on its strategic plan and increasing its path to profitability. Its underlying business remains strong with consistent customer and transaction volume growth across core markets and a solid pipeline of enterprise merchants joining the platform.

As a part of the termination, Zip Co Limited will pay US$11 million to Sezzle Inc to cover Sezzle's legal, accounting, and other costs associated with the transaction.

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