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The Latest SPAC News and Rumors: March 7, 2022
by Marlena Haddad on 2022-03-07 at 11:38am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: WeWork in discussions for fresh equity raise, and Mark Ein-backed SPACs scrap IPO plans

WeWork Explores Fresh Equity Raise Amid Stock Slump

WeWork Inc. (NYSE:WE) is in discussions to raise new equity after the co-working company’s shares fell by more than half since its October public debut. The stock plunged to a record low on the news.

The talks were kick-started by investor interest and the capital raise may be structured as a PIPE. New York-based WeWork is looking at bringing in more than $200 million.

Led by Chief Executive Officer Sandeep Mathrani, WeWork made its public markets debut in October following a merger with BowX Acquisition Corp. The shares plunged as much as 24% Friday to $4.66, a record low.

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Investor Mark Ein-Backed SPACs Scrap U.S. IPO Plans

Two blank-check vehicles backed by investor Mark Ein have withdrawn their plans for initial public offerings in the United States, according to regulatory filings on Friday, joining a slew of companies that have canceled listings this year.

The withdrawal by Capitol Investment Corp. VI and Capitol Investment Corp. VII comes at a time when volatility in the U.S. market has spiked, triggered by geopolitical tensions, rate hike concerns and uneven earnings.

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DHC Acquisition Corp (NASDAQ:DHCA) announced that it is formally terminating its combination with conservative banking venture GloriFi. This was essentially a formality because the SPAC already announced in November that GloriFi had begun the process of winding down.  The two sides announced their $1.7 billion combination in July. But, even at the time, public details...

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