Dynamix Plans To Redeem All Of Its Outstanding Class A Ordinary Shares; Intends To Cease Operations, Effective Immediately

Dynamix Corporation (NASDAQ: DYNC) (the "Company"), a publicly traded special purpose acquisition company, today announced that its board of directors (the "Board") has determined to redeem all of its outstanding Class A ordinary shares, par value $0.0001 per share, sold in its initial public offering (the "public shares") because the Company is unable to complete an initial business combination by the deadline under its Amended and Restated Memorandum and Articles of Association.

Accordingly, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Company’s trust account including interest earned (which interest shall be net of amounts withdrawn to fund our working capital requirements, subject to an annual limit of 10% of the interest earned on the trust account, and to pay our taxes ("permitted withdrawals") and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish the holders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law (the "Redemption"), and (iii) as promptly as reasonably possible following the Redemption, subject to the approval of the Company’s remaining shareholders and the Board, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.