The Latest SPAC News and Rumors: March 17, 2023
by Marlena Haddad on 2023-03-17 at 11:35am

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

Latest SPAC News:  Saudi Arabia explores setting up framework for SPAC listings, and Boxed considers filing for bankruptcy 


Saudi Arabia Explores Setting Up Framework for SPAC Listings

Saudi Arabia’s market regulator is looking into setting up a legal framework to allow special-purpose acquisition companies to list in the kingdom.

“This is one of the things that we are allowing for businesses to reach the market easier,” Yazeed Saleh Aldemaigi, deputy, strategy and international affairs at the Capital Market Authority, said at the Financial Sector Conference in Riyadh Thursday.

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Boxed considers filing for bankruptcy

Online retailer Boxed (NYSE:BOXD) is considering filing for bankruptcy as the cash-starved company faces pressure to make millions of dollars in payments to creditors it might not be able to afford, according to a Tuesday filing with the U.S. Securities and Exchange Commission.

Seven Oaks completed its merger with Boxed in December 2021.

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