Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar slides to new low as EV maker’s operating loss widens and SOC Telemed acquires behavioral health company Forefront
Polestar Slides to New Low as EV Maker’s Operating Loss Widens
Polestar (NASDAQ:PSNY) Automotive Holding’s operating loss widened in the first half as the electric-vehicle maker struggles with rising costs for auto parts and expanding abroad.
Polestar, which went public in New York in June, said revenue surged 95% to $1.04 billion on higher vehicle shipments. Still, the manufacturer’s operating loss more than doubled in the period due to the expense of its rapid expansion and a one-time share-based listing charge related to its merger with a blank-check company.
READSOC Telemed Acquires Behavioral Health Telemedicine Company Forefront
SOC Telemed (NASDAQ: TLMD) on Thursday announced its acquisition of Forefront Telecare, a company that specializes in behavioral health telemedicine services. Financial terms of the deal were not disclosed.
The Dallas-based SOC Telemed bills itself as the largest national provider of specialty acute care telemedicine. The company, founded in 2004, has been a pioneer in in-patient telemedicine, working with more than 2,500 active telemedicine programs across 10 medical specialities in hospitals in every state.
SOC became a private company when the Patient Square Capital transaction was finalized about four months ago. Originally, SOC went public in November 2020 via a merger with Healthcare Merger Corp., a SPAC.
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AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives” Virgin Orbit plans for insolvency amid rescue talks with investors Sky News...
Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade...
two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...
Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO. They should have...