UBS and Wealthfront mutually agree to terminate merger agreement

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

NEW YORK--(BUSINESS WIRE)--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.