The Latest SPAC News and Rumors: March 17, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Vacasa forecasts slower growth, and Boxed Q4 results show rise in online grocery adoption
Vacasa, After A Banner Year, Forecasts Much Slower Growth
Vacation rental giant Vacasa (NASDAQ:VCSA) expects to top $1 billion in revenue for the first time this year, but the Portland company said Wednesday that growth will be much slower than in the recent past.
Its revenues totaled $889 million last year, according to financial results issued Wednesday afternoon, up an astonishing 81%. But Vacasa said it expects growth of just around 30% this coming year.
TPG Pace Solutions Corp. completed its combination with vacation rental management platform Vacasa in a special meeting held on December 1, 2021.
Boxed Q4 Results Show Online Grocery Adoption Rising as Merchants Build Digital Loyalty
In its first earnings call since going public via SPAC in June 2021, Boxed shared Monday (March 15) that gross profit grew 50% year over year in the quarter, and average order value grew 12%. Additionally, the company noted strong customer loyalty.
Seven Oaks Acquisition Corp. completed its combination with ecommerce seller Boxed in a special meeting held on December 7, 2021.
READTomorrow.io Weather Satellites Pass Critical Design Review
A week after calling off a merger with Pine Technology (NASDAQ:PTOC) intended to raise $420 million for a constellation of commercial weather radar satellites, Tomorrow.io said March 16 its two pathfinder spacecraft passed their critical design review.
John Springmann, Tomorrow.io’s vice president for space, said the successful review clears the way for satellite production and keeps the operational constellation on track to start launching in 2023.
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