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The Lack of SPAC

The Lack of SPAC
April 12, 2022

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Consider the following our submission for the latest buzzword: SPAC Lack. We didn’t come up with Crypto-winter, the Great Resignation, or the She-cession, but we’re making this contribution, to sum up the months-long tailspin from SPAC frenzy to dismal returns and abandoned deals.

As evidenced in previous Daily Stacks and elsewhere on the Internet, SPACs have fallen out of favor due to poor returns and rumors of more substantial regulation coming. Those rumors are coming to fruition as the SEC voted to change how SPACs are treated, essentially creating more oversight into the popular mechanism for going public. Experts on the subject aren’t so sure the new regulations will protect investors or their money, stressing proper due diligence in place of historical financials.

SPAC mergers are still happening, though, as numerous acquisition companies approach their two-year deadlines. Recent deals include the opiate-free pain management company Scilex, video and cybersecurity analytics company Gorilla Technology, and solar company SolarMax.

For more on this topic, check out our previous Daily Stacks: International SPACs, What the Data Say About SPACs, SPACs as Bond Alternatives, and more.

Demanding Divestment
Shareholders urge pension leaders to divest their money from fossil fuels.
 [Reuters]
Etsy Sellers Revolt
14,000 makers object to the marketplace's increase in seller fees.
[TechCrunch]

 
Since last week, PrivCo has added:
7,527 Companies | 301 Funding Activities | 205 M&A Deals

Funding & Deal Highlights:

 

WeeCare raises $12MM from M13
Childcare • Round A • Marina del Rey, CA

 

Branch raises $10MM from Springdale Ventures 
Furniture • Round A • New York, NY
 

Epic Games raises $2BN from Sony Group
Video Games • Equity • Cary, NC

 

Ansa raises $68MM from Northpond Ventures
Biotechnology • Round A • Emeryville, CA

 

Diligent Robotics raises $30MM from Tiger Global
Robotics • Round B • Austin, TX

Creative Juice raises $15MM from Acrew Capital
Fintech •  Round A • Austin, TX

 

Truora raises $15MM from Propel Venture and Accel Partners
SaaS • Round A • San Francisco, CA

 

Tive raises $54MM from Axa Venture Partners
Supply Chain Management • Round B • Charlestown, MA

 

Forge Health raises $11M from HC9 Ventures
Mental Health • Equity • New York, NY

 

Neiman Marcus Group raises $200MM from Farfetch
Consumer Products • Equity • Dallas, TX 

 

GrubMarket acquires Regatta Tropicals
Agricultural • Acquisition • Grover Beach, CA

 

Perforce announces acquisition of Puppet
Automation  • Acquisition  • Portland, OR

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