North Atlantic Acquisition Corp. Terminates Business Combination Agreement with TeleSign

North Atlantic Acquisition Corporation (NASDAQ: NAAC), a publicly-traded special purpose acquisition company, announced today that its business combination agreement with TeleSign, Inc.  has terminated, effective immediately.  As a result, the special meeting of NAAC stockholders to approve the proposed transaction has been cancelled and NAAC will seek an alternative business combination.

Gary Quin, Chief Executive Officer of NAAC, said, “We are disappointed that current market conditions made it impossible to complete our proposed merger, but TeleSign is a great company with a strong management team and we are confident that it has a bright future.”

About North Atlantic Acquisition Corp.

NAAC is a blank check company, also commonly referred to as a SPAC, formed for the purpose of effecting a business combination with a company with global ambition, with a primary focus on the consumer, industrials and TMT sectors in Europe or North America, where its Board of Directors has multiple decades of experience.

NAAC closed its initial public offering on January 26, 2021 and has 24 months from such date to complete its initial business combination.

About TeleSign

TeleSign provides continuous trust to leading global enterprises by connecting, protecting and proactively defending their digital identities. TeleSign verifies over five billion unique phone numbers a month, representing half of the world’s mobile users, and provides critical insight into the remaining billions. The company’s powerful AI and extensive data science deliver identity with a unique combination of speed, accuracy and global reach. TeleSign solutions prevent fraud, secure communications and enable the digital economy by allowing companies and customers to engage with confidence.