Tag: Crescent

F45 Training and Crescent Acquisition Corp Mutually Agree to Terminate Business Combination Agreement

LOS ANGELES–(BUSINESS WIRE)–Oct 6, 2020–

Crescent Acquisition Corp (“CAC” or the “Company”) (NASDAQ: CRSA, CRSAU, CRSAW), a publicly-traded special purpose acquisition company, together with F45 Training Holdings Inc. (“F45”), one of the fastest-growing fitness franchisors in the world, jointly announced today the termination of their previously announced business combination agreement. The termination is effective October 5, 2020.

“While we remain optimistic about the current performance and long-term growth prospects of F45, the prolonged uncertainty around the pandemic has challenged our ability to successfully complete the business combination,” Robert Beyer, Executive Chairman, and Todd Purdy, CEO, said jointly.

“Despite our best efforts to finalize this transaction, we ultimately concluded that approaching the public markets at this time was not the right option for F45,” said F45 CEO Adam Gilchrist. “That said, we are very pleased with our recent business performance, and have seen strong member re-engagement to almost pre-COVID levels. Our

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Libya’s Oil Crescent Gets Back to Business as Sarir Field Opens

(Bloomberg) — Libya’s oil industry continued its revival this week following a truce between the main factions in the OPEC member’s devastating civil war.

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The Sarir field opened on Tuesday, according to its operator, Arabian Gulf Oil Co. Production is just 30,000 barrels a day for now. But with a capacity of about 200,000, it’s the biggest deposit in the country to restart since an almost-total shutdown of Libyan energy facilities in January.

Much of the country’s “oil crescent” — a cluster of ports and fields in the east — is back onstream, though not yet at full capacity. Libya’s western fields, including Sharara, the biggest in the North African nation, are still closed. The state-run National Oil Corp. has said foreign mercenaries and other fighters must leave facilities before than can reopen.

Overall oil output has reached about 300,000 barrels a day, up from 80,000 at the

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