Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Grove Collaborative announces first quarter 2022 results
Grove Collaborative Announces Fiscal First Quarter 2022 Financial Results and Provides Updated Guidance
Grove Collaborative, Inc., a certified B Corp and leading sustainable consumer products company, today reported financial results for its fiscal first quarter ended March 31, 2022.
Highlights include net revenue of $90.5 million, down 11% year-over-year and gross margin of 47.2%, down 380 basis points year-over-year. Additionally, the company saw a net loss margin of (52.4)%, as compared to (37.1)% in the first quarter of 2021.
Grove and Virgin Group Acquisition Corp. II (NYSE: VGII), a publicly traded SPAC sponsored by Virgin Group, previously announced that they entered into a definitive business combination agreement that will result in Grove becoming a public company.
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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...