Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Enjoy Technology files for bankruptcy, D-Orbit signs launch and deployment contract with Kepler Communications and Bird CEO steps down as president
SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public
Enjoy Technology Inc. (NASDAQ:ENJY), a retail startup founded by former Apple Inc.executive Ron Johnson, filed for bankruptcy on Thursday — less than a year after going public through a merger with a blank-check company.
The company plans to keep operating and sell itself to Asurion LLC while in Chapter 11 bankruptcy, court papers show. Asurion has agreed to lend $52.5 million of new money to fund the Chapter 11 case.
READD-Orbit Signs Launch and Deployment Contract with Leading Satellite Telecom Provider Kepler Communications
D-Orbit, the space logistics company that is going public through a transaction with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), today announced the signing of a launch and deployment contract with Kepler Communications, a private telecommunications company based in Toronto, Ontario, Canada.
As previously announced on January 27, 2022, D-Orbit entered into a business combination agreement with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), a publicly traded special purpose acquisition company.
READBird CEO Travis VanderZanden steps down as president
Shared micromobility company Bird’s (NYSE:BRDS) board of directors has appointed Shane Torchiana as president of the company, replacing the company’s CEO and founder Travis VanderZanden. The new roles will begin effective June 29, per a regulatory filing.
VanderZanden, who previously served as the chief operating officer (COO) at ride-hailing company Lyft, will stay on as CEO of Bird and chair of the board of directors.
The Santa Monica–based e-scooter and e-bike sharing company is one of two micromobility companies to debut on the public markets, alongside Helbiz, both of which came to fruition via mergers with a SPAC. Bird debuted on the NYSE on November 5 via a merger with Switchback II. The company initially traded at $8.34 per share, with an expected valuation of around $2.3 billion.
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Terms Tracker for the Week Ending February 21, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a shortened holiday week due to President’s Day, which meant no new IPOs priced. However, the market remained active with two new SPAC...
Part of the fun of the SPAC market is seeing the constantly evolving terms and approaches of teams in both securing their IPOs and their later business combinations. But, there are nonetheless a few hard rules to set the state of play among sponsors and investors, including sacrosanct deadlines for dispersing of trust funds back...
At the SPAC of Dawn Car-sharing networks had their moment in the sun as hot items in the tech scene, with some hopes that the companies could grow to the same scale as vacation rental disrupters like AirBnB (NASDAQ:ABNB). But, signs are showing that this startup category may not be ready for the public markets....
Blue Water III (NASDAQ:BLUWU) has filed for a $200 million SPAC to follow up on the healthcare-focused sponsor’s 2021 pharmaceutical deal. This new SPAC is set to have 1/2 warrants in its units with no overfunding of its trust and a solid 24 months to complete a business combination. It is the third new S-1...
At the SPAC of Dawn While yesterday brought news of better-than expected housing starts, albeit with slightly lower building permits beginning, today’s market news should include an update on jobless claims, which could be a key harbinger of the Fed’s rate cut policy. Other leading economic indicators are set to come in later in the...