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The Latest SPAC News and Rumors: January 25, 2023
by Marlena Haddad on 2023-01-25 at 12:35am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Circle blames SEC for deal collapse, Vacasa slashes 17% of workforce, and Hindenburg targets Adani Group after bets against Nikola


Circle Blames SEC for Collapse of $9B SPAC

Stablecoin company Circle says the SEC is to blame for its failure to go public.

The company told the Financial Times (FT) in an interview published Wednesday (Jan. 25) that the $9 billion deal was called off last year not because of the rocky cryptocurrency market, but because the Securities and Exchange Commission (SEC) had not approved it.

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Vacasa Slashes 17% of Workforce in Second Recent Round of Layoffs

Vacation rental property manager Vacasa (NASDAQ:VCSA) is eliminating 1,300 positions, which was 17 percent of its workforce, as the company determined it had to make deeper improvements to operations. The firings took place Tuesday, just three months after the company axed 280 staffers.

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US Short Seller Takes On Asia’s Richest Man After Targeting Nikola and Twitter

US short seller Hindenburg Research LLC is targeting Asia’s richest man with accusations of market manipulation and fraud after a run of often-successful bets against companies ranging from electric-vehicle maker Nikola Corp. (Nasdaq: NKLA) to Twitter Inc.

The firm run by Nate Anderson published an almost 100-page report on Gautam Adani’s Adani Group, sending shares of the Indian group’s companies tumbling Wednesday. Hindenburg said it’s short Adani securities via derivatives and US-traded bonds. Adani Group rejected the accusations as “baseless” and “selective misinformation.”

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