SPACInsider Logo
The Latest SPAC News and Rumors: May 19, 2023
by Marlena Haddad on 2023-05-19 at 11:54am

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

Latest SPAC News: WeWork CEO to step down to join private equity firm and AppHarvest discloses that it could run out of money by October

WeWork CEO Sandeep Mathrani to Step Down to Join Private Equity Firm Sycamore Partners as Director

WeWork (NYSE:WE) CEO Sandeep Mathrani is stepping down effective May 26, the co-working space firm announced this week. The Indian American will join private equity firm Sycamore Partners as a director to lead its real estate activity, “improving and optimizing real estate often embedded within Sycamore’s target companies, according to a press release from the company.

During his three years at the company, Mr. Mathrani helped take the co-working company public through a special purpose acquisition company last year.


AppHarvest to reopen listeria-impacted CEA farm in “a few weeks” but could run out of cash “as soon as October”

US-based high-tech greenhouse grower AppHarvest (NASDAQ:APPH) could run out of money as soon as October of this year “absent additional sources of financing,” according to the indoor farming company’s quarterly regulatory report filed on May 10.

It noted in the filing that it has “incurred losses from operations and generated negative cash flows from operating activities since inception.”

AppHarvest’s struggles are well documented and have burdened the indoor farming company since shortly after it went public in February 2021 via a special purpose acquisition company at a $1 billion valuation.



Recent Posts
by Kristi Marvin on 2023-06-03 at 1:58pm

Terms Tracker for the Week Ending June 2, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As is typical of slow holiday weeks, this past week for SPACs was no exception. To wit, there were zero new S-1s filed, zero amendments...

by Marlena Haddad on 2023-06-02 at 6:24pm

Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...

by Marlena Haddad on 2023-06-02 at 5:36pm

Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...

by Marlena Haddad on 2023-06-02 at 5:35pm

Latest Non-Redemption Agreements:  GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...

by Marlena Haddad on 2023-06-02 at 5:34pm

Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved