The Latest SPAC News and Rumors: August 21, 2023
by Marlena Haddad on 2023-08-21 at 11:33am
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork plunges another 11% following reverse stock split announcement
WeWork Plunges Another 11% After Announcing Reversing Stock Split To Try And Keep NYSE Listing
WeWork (NYSE:WE), the office-sharing company once valued at $47 billion, said Friday it will undergo a 1-for-40 reverse stock split to try and keep its stock from being delisted.
The shares fell 11% after the announcement, closing at 14 cents. They’ve been trading under $1 since late March, and the company’s market cap now sits at around $300 million.
“The Reverse Stock Split is being effected to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange,” WeWork said in a filing with the SEC.
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by Kristi Marvin on 2023-09-20 at 5:31pm
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by Kristi Marvin on 2023-09-20 at 4:39pm
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by Nicholas Alan Clayton on 2023-09-20 at 2:34pm
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by Nicholas Alan Clayton on 2023-09-20 at 11:35am
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Abu Dhabi royal-backed firms to merge in region’s first SPAC deal ADC Acquisition Corporation (ADC.AD), a blank-cheque company backed by a prominent Abu Dhabi royal, has agreed to acquire state investment fund ADQ’s United Printing & Publishing,...