Investing.com -- Perpetuals.com (PDC.O) shares traded more than 15% higher on Tuesday after the company announced it ended acquisition discussions with a business linked to World Liberty Financial.

The global fintech company said it has stopped talks to acquire Alt5 Sigma Canada, Inc., a subsidiary of AI Financial Corporation that is closely connected to the Trump family-backed crypto venture World Liberty Financial.

"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," the company said in a statement released Tuesday.

The U.S.-based, Japan-headquartered company had announced on July 7 that it signed a non-binding term sheet to explore the potential acquisition.