Perpetuals.com Ltd (Nasdaq: PDC) has terminated a letter of intent to acquire Alt5 Sigma Canada, Inc., a subsidiary of AI Financial Corporation, according to a statement from the company's Chief Strategy Officer, Matthew Nicoletti.

Nicoletti stated: "Perpetuals has decided not to further pursue the acquisition of AI Financial Corporation's subsidiary Alt5 Sigma Canada, Inc. and the earlier letter of intent has been terminated."

No additional details regarding the reasons for the termination were provided in the statement.