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The Latest SPAC News and Rumors: October 21, 2022
by Marlena Haddad on 2022-10-21 at 11:35am

 


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

Latest SPAC News: Boost Mobile founder wants to buy back service, Lavoro partners with Pattern Ag to predict crop risks, and Starry Group lays off half of staff


Boost Mobile Founder Wants to Buy Back Service, Prevent Deal by Dish

The founder of Boost Mobile wants to buy the wireless service back and keep current owner Dish Network Corp. (NASDAQ:DISH) from merging it with blank-check company Conx Corp. (NASDAQ:CONX), which is controlled by Chairman Charlie Ergen.

Australian Peter Adderton said by phone from Sydney on Thursday that he’s preparing a bid for Boost and has talked to at least one major private equity shop about financing the deal. He’s been trying to get the business back since he first sold it to Nextel in 2003.

Adderton plans to make the Dish board members aware of his interest before they approve the SPAC merger plan. The Conx board is awaiting a decision from Dish before they go ahead with a vote on Oct. 31 to extend the Boost discussions.

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Leading Brazilian ag inputs retailer Lavoro and soil metagenomics leader Pattern Ag launch exclusive partnership to predict crop risks and nutrient deficiencies for farmers in Brazil

Lavoro, Brazil’s largest agricultural inputs retailer, announced today a multi-year partnership with soil metagenomics and digital agronomy leader Pattern Ag to offer farmers in Brazil a groundbreaking service that will predict crop risks and nutrient deficiencies and offer specific product recommendations through a personalized software experience.

Lavoro announced in September its intent to become the first US-listed pure-play Latin American agricultural inputs retailer through a business combination with The Production Board’s (“TPB”) Special Purpose Acquisition Company, TPB Acquisition Corporation I (“TPB Acquisition Corp”) (Nasdaq: TPBA).

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Starry Group Slashes Jobs

Faced with dwindling cash on its balance sheet, a tough environment for raising capital, and a falling stock price, home-internet start-up Starry Group Holdings (NYSE:STRY), which merged with FirstMark Horizon Acquisition Corp., is battening down the hatches. That means laying off half its staff, slowing its network expansion, cutting discretionary spending, and withdrawing 2022 guidance.

Starry also released third-quarter operating metrics on Thursday showing that the business works—it just can’t grow without raising additional capital.

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