Panera Bread terminates SPAC deal with Danny Meyer’s investment group

Florida, Spring Hill, Nature Coast Commons, shopping mall, Panera Bread bakery. Jeff Greenberg | Universal Images Group | Getty Images Danny Meyer’s SPAC and Panera Bread have called off a deal to take the sandwich chain public again, citing market conditions. In November, the parent company of the sandwich chain, Caribou Coffee and Einstein Bros. … Read more

Polestar (PSNY) stock debuts on Nasdaq after SPAC merger

Shares of Polestar made their public-market debut under the ticker “PSNY” on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisition company, or SPAC. Polestar’s stock began trading on the Nasdaq exchange one day after it completed its merger with the SPAC Gores Guggenheim. The … Read more

This SPAC is merging with an already-public company as sponsors get creative before time runs out

Traders on the floor of the NYSE, June 8, 2022. Source: NYSE SPACs are known to be a roundabout investment vehicle to take private companies public. Not this one. Bull Horn Holdings is merging with biotech Coeptis Therapeutics, a public company traded over the counter. The SPAC sponsors told CNBC they went for a public … Read more

Probes, executive upheaval continue to tank SPAC-backed EV start-ups

Electric Last Mile Solutions CEO James Taylor wanted to separate his electric vehicle company by staying out of controversies that had engulfed many of his competitors. “We have no lawsuits; no management issues, that we’re aware of; we’re delivering; we’re keeping our nose clean,” the former General Motors executive told CNBC in early November, calling … Read more

The SPAC market starts 2022 with abysmal losses, abandoned deals

A trader is comforted by a coworker as they work on the floor of the New York Stock Exchange (NYSE) on March 1, 2018 in New York City. Eduardo Munoz Alvarez / Getty Images (Click here to subscribe to the new Delivering Alpha newsletter.) The oversaturated SPAC market is continuing to get crushed in the … Read more