Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar slides to new low as EV maker’s operating loss widens and SOC Telemed acquires behavioral health company Forefront
Polestar Slides to New Low as EV Maker’s Operating Loss Widens
Polestar (NASDAQ:PSNY) Automotive Holding’s operating loss widened in the first half as the electric-vehicle maker struggles with rising costs for auto parts and expanding abroad.
Polestar, which went public in New York in June, said revenue surged 95% to $1.04 billion on higher vehicle shipments. Still, the manufacturer’s operating loss more than doubled in the period due to the expense of its rapid expansion and a one-time share-based listing charge related to its merger with a blank-check company.
READSOC Telemed Acquires Behavioral Health Telemedicine Company Forefront
SOC Telemed (NASDAQ: TLMD) on Thursday announced its acquisition of Forefront Telecare, a company that specializes in behavioral health telemedicine services. Financial terms of the deal were not disclosed.
The Dallas-based SOC Telemed bills itself as the largest national provider of specialty acute care telemedicine. The company, founded in 2004, has been a pioneer in in-patient telemedicine, working with more than 2,500 active telemedicine programs across 10 medical specialities in hospitals in every state.
SOC became a private company when the Patient Square Capital transaction was finalized about four months ago. Originally, SOC went public in November 2020 via a merger with Healthcare Merger Corp., a SPAC.
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Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...
Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change. However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...