Lenders to Getty Images Holdings Inc. have started to organize after the debt-laden photo archive business scrapped a planned merger with Shutterstock Inc., according to people familiar with the matter.

Shares of Shutterstock Inc. plunged about 30% in after-hours trading after Getty Images Holdings Inc. said it would cancel a planned merger due to a ruling from UK regulators.

Shares of stock-photo company Getty Images Holdings Inc. soared as much as 145% on Monday after it announced a licensing deal with OpenAI.

The UK, which is scrutinizing Getty Images Holdings Inc deal with Shutterstock Inc. to create a $3.7 billion firm, proposed that Shutterstock sell its entire editorial business to get approval for the acquisition.