SPAC
Truth Social SPAC could pay Trump’s astronomical legal bills — if board approves it
Donald Trump’s beleaguered SPAC deal is finally going through, and just in time to pay nearly half a billion dollars owed over several legal actions — if the board agrees…
Astra Space, the launch company that went public in 2021 at a $2.1 billion valuation, is going private again after months of burning cash and failing to secure alternate investment.…
Lynk forges ahead with public market debut despite SPAC’s dwindling reserves
Satellite-to-phone connectivity provider Lynk Global will head to the public markets via a merger with a shell company led by former professional baseball player Alex Rodriguez. The two companies confirmed…
Arrival’s spectacular fall continues with a delisting from Nasdaq
Commercial EV startup Arrival is being removed from the Nasdaq stock exchange as it speeds toward dissolution. The company, which went public after merging with a special purpose acquisition company,…
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USDC stablecoin issuer Circle files confidentially for an IPO
After trying to go public twice via SPAC deals, Circle is trying to go public once again. Would that other private tech companies were as bold.
Better.com’s stock tanks after SPAC combination brings it to the public markets
Shares of Better.com are getting hammered into the ground Thursday morning after the digital mortgage company completed its long-delayed SPAC merger and began to trade as a public company for…
Bad CTOs mean startups have millions of dollars’ worth of cap table dead weight
Welcome to Startups Weekly. Sign up here to get it in your inbox every Friday. This week, I’ve been looking at the evolution of tech startups. The journey from two…
This is our Friday show, and we’re talking about the week’s biggest startup and tech news, and having a little fun.
We didn’t think we’d see the day. Digital mortgage lender Better.com’s proposal to combine with Aurora Acquisition Corp. via a SPAC (special purpose acquisition) has been approved by shareholders, the…
SEC ends investigation into Better.com, which continues to bleed cash ahead of planned SPAC vote
The U.S. Securities and Exchange Commission (SEC) said it does not intend to recommend an enforcement action against digital mortgage lender Better.com. The pronouncement comes after an investigation on the…
AltC’s merger with Oklo and ACG Acquisition’s purchase of two critical minerals are both SPACs, but they couldn’t be more different.
The high cost of trying to develop and produce vehicles, a business pivot and three restructurings has taken a toll on commercial EV maker Arrival. And it doesn’t look like…
Intuitive Machines’ post-SPAC war chest depleted by shareholder redemptions
Lunar technology company Intuitive Machines received far less cash from its merger with a special purpose acquisition company (SPAC) than it forecasted, according to filings with the U.S. Securities and…
Stratospheric balloon company World View to go public in $350M SPAC deal
World View, a company developing stratospheric balloons for Earth observation and tourism, is heading to the public markets. The company announced Friday that it would merge with special purpose acquisition…
Canoo sends its EV pickup truck to the US Army for testing
Canoo, the beleaguered EV startup-turned-SPAC, has delivered its first “Light Tactical Vehicle” to the U.S. Army for a demonstration project aimed at showing how its modular electric platform can support mission-specific…
Electric motorbike-maker Zapp Electric Vehicles to go public via SPAC
U.K.-based electric two-wheeler manufacturer Zapp Electric Vehicles is merging with a blank-check company to become publicly traded on the Nasdaq at a post-money valuation of $573 million. Zapp says it…
HyperloopTT’s SPAC public debut may be going nowhere fast
Hyperloop Transportation Technologies (HyperloopTT) has entered into a definitive merger agreement with special purpose acquisition company (SPAC) Forest Road Acquisition Corp. II, which is led by former Disney executives Tom…
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How Bird clipped its own wings
It recently came to light that Bird, a former unicorn in the once-hot scooter rental market, overstated its revenue for years. The accounting mess is consequential.
Micromobility company Bird said Monday it had overstated its revenue for more than two years by recognizing unpaid customer rides. Bird’s audit committee found on Friday that the company’s financial…
EV maker Arrival cutting jobs again in pivot away from UK to the US
Commercial EV company Arrival is restructuring its business for the second time in six months as it tries to squeeze the most out of its remaining capital. The company said…
Mullen to bid for bankrupt Electric Last Mile Solutions
Mullen Automotive is the leading bidder on bankrupt commercial EV maker Electric Last Mile Solutions, its second major deal this month as it strives to deliver its own electric vehicle.…
Intuitive Machines is going public. The company, which is developing lunar landers and other tech to enable exploration of the moon, said Friday it would list on the Nasdaq after…
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In leaked memo, Aurora CEO weighs spinouts, layoffs and acquisitions against sale to big tech
The chief executive of autonomous vehicle developer Aurora Innovation presented a swath of cost-cutting and cash-generating options to its board, ranging from a hiring freeze and spinning out assets to a small capital raise, going private and even selling itself to high-profile tech companies Apple and Microsoft. The ideas, all…
Two EV manufacturers are seeking cash infusions this week to bring their delayed vehicles to market. Nikola, a Phoenix-based electric truck maker, said in a securities filing Tuesday that it…
Recent news has us wondering whether there really is a bottom to the mess that SPAC-led debuts left all over the public markets. Then we want to know who is…
Daily Crunch: US government is tracking our phones more than we thought, new docs show
Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Better.com is still trying to proceed with its SPAC deal
Digital mortgage lender Better.com, which began making plans to go public via a SPAC in May 2021, has confirmed that it intends to move forward with its planned public debut,…
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Can Polestar succeed where other EV maker SPACs have failed?
Polestar is the latest EV maker to hurry to the stock exchange by merging with a special purpose acquisition company, or SPAC, before becoming profitable.
Bird gets a warning from the NYSE because its stock price is too low
Scooter and micromobility company Bird has to fly at a slightly higher altitude — at least if it wants to keep its New York Stock Exchange (NYSE) listing. The company…
The death knell for SPACs?
It was a tough day for special purpose acquisition companies, or SPACs, which had already fallen out of favor after roughly 18 months in the limelight. First, Senator Elizabeth Warren…
