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

Why QuantumScape investors are still waiting for new EV batteries

A solid-state battery development lab for QuantumScape. QuantumScape The electric vehicle space has seen a handful of impressive stock market debuts in recent years, but battery start-up QuantumScape’s first few weeks of trading were remarkable even by EV stock standards. QuantumScape, which was founded in 2010, went public via a merger with a special-purpose acquisition … Read more

Activist investors are hunting targets in the SPAC market, but battles won’t be easy to win

Daniel Loeb, founder and chief executive officer of Third Point LLC Jacob Kepler | Bloomberg | Getty Images (Click here to subscribe to the Delivering Alpha newsletter.) The once red-hot SPAC market is becoming a fertile ground for activist investors who push for changes at problematic companies and profit from them. A record number of … 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