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2 mins read

Long-term projections by some SPAC stocks are proving to be wishful thinking as Virgin Galactic misses 2021 revenue target by 98%

Nikola said during its SPAC IPO that it expected to generate about $150 million in revenue in 2021.…

Matthew Fox   


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1 min read

The SEC is reportedly weighing stricter rules to rein in the wild projections made by SPACs as the blank-check craze slows

The US regulator is considering new guidance to curb growth projections made by listed special-purp…

Emily Graffeo   


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1 min read

BYJU's logs nearly ₹10K crore revenue in FY22, tops estimates

In six months from February 2022 till July 2022, the company logged Rs 6,175 crore revenue, brea…

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2 mins read

BYJU's set to release FY21 financial report, sales may see significant drop

After nearly 18 months delay of "ironing out the complexities", edtech major BYJU's is all set to r…

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2 mins read

The SEC says it's looking closely at the wild earnings projections attached to many SPAC offerings

The SEC said a company would be on "shaky ground" if it disclosed favorable projections and omitted…

Isabelle Lee   


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1 min read

Donald Trump's media company lays off some employees while waiting for regulators to approve SPAC merger, report says

The company behind Donald Trump's Truth Social has laid off around half a dozen staff, including se…

Kate Duffy   


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2 mins read

The SPAC boom has become a 'mania' and sponsors should be more tethered to growth projections, former NYSE President Tom Farley says

Former NYSE President Tom Farley said SPACs have become a "mania" and valuations are "untethered fr…

Will Daniel   


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1 min read

Top SPAC issuer Citigroup will reportedly halt blank-check IPOs after the SEC signals tougher stance

The top SPAC underwriter of 2021 is pausing its SPAC deals amid new rules proposed by the SEC, Bloo…

Phil Rosen   


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2 mins read

The SEC is taking aim at SPACs with proposed rules to make disclosures more like those in a traditional IPO

The watchdog's proposal calls for more disclosures around conflicts of interest between sponsors an…

Shalini Nagarajan   


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5 mins read

WeWork released an investor deck outlining ambitious occupancy projections ahead of a proposed SPAC deal. Here are 4 big takeaways.

WeWork is prepping for a quick return to the office this year that will make the company profitable…

Alex Nicoll,Daniel Geiger   


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2 mins read

SEC chief Gary Gensler says he's asked staff to propose tougher SPAC rules so that investors aren't sucked in by hype

"The investing public may not be getting like protections between traditional IPOs and SPACs," Secu…

Shalini Nagarajan   


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2 mins read

SoftBank's View avoids SEC fine, but is still running low on cash. How it went from investor darling to SPAC disaster.

Insiders told us the smart-glass company burned cash and struggled with product failures for years.

Hayley Cuccinello,Aaron Weinman   


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4 mins read

Trying to make sense of Donald Trump's SPAC? We break it down for you.

Shares of Digital World Acquisition Company, which plans to merge with Donald Trump's new social me…

Natasha Dailey   


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8 mins read

How Grab, Asia's Uber, stumbled before and after its $40 billion SPAC, with pandemic layoffs and a teary all-hands with its CEO

Grab was a poster child for how Southeast Asia could match — or at least ape — Silicon Valley innov…

Weilun Soon   


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2 mins read

Forbes is going public via $630 million SPAC merger with Magnum Opus Acquisition

The transaction, which is expected to close in the fourth quarter or first quarter 2022, will be us…

Isabelle Lee   


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1 min read

Goldman Sachs is exiting work on most SPACs because of liability concerns as regulators tighten guidelines, report says

The investment bank may change course if the SEC scales back its SPAC oversight guidelines, Bloombe…

Carla Mozée   


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1 min read

Lucid Motors drops as luxury electric vehicle maker receives SEC subpoena

Lucid said the SEC investigation appears focused on the business combination between it and battery…

Carla Mozée   


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Matthew Fox   


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Digital World Acquisition stock may face less short-seller pressure due to quirk in SPAC deals, expert says

DWAC's prospectus said 11 anchor investors would buy up to 91.3% of the shares offered, potentially…

Isabelle Lee   


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3 mins read

'SPAC King' Chamath Palihapitiya says blank-check companies need more oversight and regulation

"It is time to improve the regulations around the SPAC ecosystem with clear and rigorously enforced…

Will Daniel