Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork CEO to step down to join private equity firm and AppHarvest discloses that it could run out of money by October
WeWork CEO Sandeep Mathrani to Step Down to Join Private Equity Firm Sycamore Partners as Director
WeWork (NYSE:WE) CEO Sandeep Mathrani is stepping down effective May 26, the co-working space firm announced this week. The Indian American will join private equity firm Sycamore Partners as a director to lead its real estate activity, “improving and optimizing real estate often embedded within Sycamore’s target companies, according to a press release from the company.
During his three years at the company, Mr. Mathrani helped take the co-working company public through a special purpose acquisition company last year.
READAppHarvest to reopen listeria-impacted CEA farm in “a few weeks” but could run out of cash “as soon as October”
US-based high-tech greenhouse grower AppHarvest (NASDAQ:APPH) could run out of money as soon as October of this year “absent additional sources of financing,” according to the indoor farming company’s quarterly regulatory report filed on May 10.
It noted in the filing that it has “incurred losses from operations and generated negative cash flows from operating activities since inception.”
AppHarvest’s struggles are well documented and have burdened the indoor farming company since shortly after it went public in February 2021 via a special purpose acquisition company at a $1 billion valuation.
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At the SPAC of Dawn The final week of October comes in with a busy slate of votes including one extension today and nine more clustered on Thursday and Friday. Both TMT (NASDAQ:TMTC) and Insight (NASDAQ:INAQ) are set to hold completion votes for their combinations with eLong Power and Alpha Modus, respectively. Meanwhile, the SPAC...
Terms Tracker for the Week Ending October 25, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Finally, a little more SPAC action this week with no less than four IPOs priced. That brings October’s tally to seven IPOs with one more...
At the SPAC of Dawn The rebound of the growth companies that made up the SPAC class of 2021 has been one of the bigger stories of second half of 2024, but not all of the de-SPACs are feeling the love equally. Instead, in many new sectors that hit the public markets together as a...
DT Cloud (NASDAQ:DYCQ) has entered into a definitive agreement to combine with Maius Pharmaceutical at an equity value of $250 million. Shanghai-based Maius is a drug developer and researcher focused on small-molecule chemical treatments for different forms of cancer. The combined company is expected to trade on the Nasdaq once the deal is completed in...
Charlton Aria Acquisition Corporation announced the pricing of its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CHARU”, Thursday, October 24, 2024. The new SPAC plans to focus on industries that complement the management team’s and board of director’s background and network. The sponsor team for...