By Ben Glickman


SilverSun Technologies said Monday that it had terminated its merger agreement with bitcoin miner Rhodium Enterprises.

Software and IT company SilverSun said in a regulatory filing that the agreement was ended based on a clause that allowed either party to terminate the deal if it was not closed by Sept. 30.

The merger was announced in September 2022, and was expected to close by the end of last year.

Under the initial terms of the deal, SilverSun stockholders would receive a cash dividend of at least $1.50 and a share of SWK Technologies Holdings, a subsidiary of SilverSun, per share of SilverSun stock.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

10-16-23 1556ET