Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Vertical Farming is latest 2022 tech layoffs victim, SeaStar Medical and Nuwellis enter into license and distribution agreement, and Complete Solaria and Freedom I achieve important milestones
Futuristic Vertical Farming Startups Are Struggling in the Tech Downturn
When the market was booming, tech investors poured billions into companies designing new ways of farming. Now some of those bets appear to be wilting.
Fifth Season, a Pittsburgh-based vertical farming company, told employees this fall it was shutting down. Berlin-based Indoor Urban Farming GmbH, valued at more than $1 billion, laid off about 500 employees last month. And greenhouse startup AppHarvest (NASDAQ:APPH), which went public through a special purpose acquisition company last year, has seen its stock sink more than 90% since its 2022 high. After telling investors it was low on funds, AppHarvest recently sold one of its farms and plans to rent it back.
SeaStar Medical and Nuwellis Enter into a U.S. License and Distribution Agreement for SeaStar Medical’s Selective Cytopheretic Device for Pediatric Acute Kidney Injury
SeaStar Medical Holding Corporation (Nasdaq: ICU) (SeaStar Medical) and Nuwellis, Inc. (Nasdaq: NUWE) (Nuwellis) announce an exclusive U.S. license and distribution agreement by Nuwellis of SeaStar Medical’s Selective Cytopheretic Device (SCD) for the treatment of acute kidney injury (AKI) in children. Nuwellis will market and distribute the SCD through its direct salesforce to nephrologists and intensive care physicians who are trained in pediatric extracorporeal therapy.
SeaStar completed its combination with LMF Acquisition Corp. in October 2022.
Complete Solaria and Freedom Acquisition I Corp. Achieve Important Milestones Towards Completion of Business Combination
Complete Solaria, Inc., a leading solar technology, services, and installation company, and Freedom Acquisition I Corp. (NYSE: FACT), a publicly traded special purpose acquisition company, announced a number of positive financial developments in connection with their proposed business combination
Complete Solaria combined two highly complementary businesses in a vertically integrated manufacturing and distribution model, delivering end-to-end residential solar solutions, with world-class customer service, aesthetically appealing, high-performance solar panels, as well as project financing, design and software solutions.
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Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...