Donald Trump’s beleaguered SPAC deal is finally going through, and just in time to pay nearly half a billion dollars owed over several legal actions — if the board agrees to let him sell. Let’s get all the acronyms out in the open. Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), has […]
Astra is the space industry’s first SPAC bust of 2024
Astra Space, the launch company that went public in 2021 at a $ 2.1 billion valuation, is going private again after months of burning cash and failing to secure alternate investment. The company announced Thursday that its board had accepted an offer from its CEO, Chris Kemp, and its CTO, Adam London, to purchase the […]
MariaDB’s potential take-private deal is an indictment of 2021’s SPAC mania
The potential sale of MariaDB to K1 Investment Management for $ 37 million is a capstone on the failed era of SPAC mergers that gained prominence for a brief time in venture circles during the last startup boom. Remember SPACs? Special purpose acquisition companies, also known as blank-check companies, were used heavily in 2021 and […]