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UBS and Wealthfront mutually agree to terminate merger agreement

September 02, 2022 at 16:30 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

UBS to purchase a USD 69.7 million note convertible into Wealthfront shares

UBS remains committed to its growth plans in the US and strengthening its digital offering

UBS and Wealthfront have mutually agreed to terminate their merger agreement, initially announced 26 January 2022, under which Wealthfront was to be acquired by UBS Americas Inc.

UBS will purchase a USD 69.7 million note convertible into Wealthfront shares.

UBS remains committed to its growth plans in the US and will continue the build-out of its digital wealth management offering.