Hennessy Capital Acquisition Corp. and autonomous trucking software developer Plus canceled their planned SPAC merger on Monday, a breakup telegraphed in recent weeks by Hennessy’s claim that regulations from outside the United States — likely China — were too big a hurdle to clear.
The termination is effective immediately given that Monday was the “outside date” for the business combination to go into effect. It was unclear whether HCIC shareholders who invested in Hennessy’s initial public...