SPAC

Electric motorbike-maker Zapp Electric Vehicles to go public via SPAC

U.K.-based electric two-wheeler manufacturer Zapp Electric Vehicles is merging with a blank-check company to become publicly traded on the Nasdaq at a post-money valuation of $573 million. Zapp says i

HyperloopTT’s SPAC public debut may be going nowhere fast

Hyperloop Transportation Technologies (HyperloopTT) has entered into a definitive merger agreement with special purpose acquisition company (SPAC) Forest Road Acquisition Corp. II, which is led by for

How Bird clipped its own wings

It recently came to light that Bird, a former unicorn in the once-hot scooter rental market, overstated its revenue for years. The accounting mess is consequential.

Bird tells SEC it overstated revenue for two years

Micromobility company Bird said Monday it had overstated its revenue for more than two years by recognizing unpaid customer rides. Bird’s audit committee found on Friday that the company’s financi

EV maker Arrival cutting jobs again in pivot away from UK to the US

Commercial EV company Arrival is restructuring its business for the second time in six months as it tries to squeeze the most out of its remaining capital. The company said in a regulatory filing post

Mullen to bid for bankrupt Electric Last Mile Solutions

Mullen Automotive is the leading bidder on bankrupt commercial EV maker Electric Last Mile Solutions, its second major deal this month as it strives to deliver its own electric vehicle. The California

Intuitive Machines to go public in SPAC deal

Intuitive Machines is going public. The company, which is developing lunar landers and other tech to enable exploration of the moon, said Friday it would list on the Nasdaq after merging with a specia

In leaked memo, Aurora CEO weighs spinouts, layoffs and acquisitions against sale to big tech

The chief executive of autonomous vehicle developer Aurora Innovation presented a swath of cost-cutting and cash-generating options to its board, ranging from a hiring freeze and spinning out assets t

Nikola, Lucid latest EV SPACs trying to raise cash

Two EV manufacturers are seeking cash infusions this week to bring their delayed vehicles to market. Nikola, a Phoenix-based electric truck maker, said in a securities filing Tuesday that it plans to

Is there no bottom to the SPAC mess?

Recent news has us wondering whether there really is a bottom to the mess that SPAC-led debuts left all over the public markets. Then we want to know who is to blame. Thankfully, we have receipts.

Daily Crunch: US government is tracking our phones more than we thought, new docs show

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Better.com is still trying to proceed with its SPAC deal

Digital mortgage lender Better.com, which began making plans to go public via a SPAC in May 2021, has confirmed that it intends to move forward with its planned public debut, despite lackluster perfor

Can Polestar succeed where other EV maker SPACs have failed?

Polestar is the latest EV maker to hurry to the stock exchange by merging with a special purpose acquisition company, or SPAC, before becoming profitable.

Bird gets a warning from the NYSE because its stock price is too low

Scooter and micromobility company Bird has to fly at a slightly higher altitude — at least if it wants to keep its New York Stock Exchange (NYSE) listing. The company issued a press release on Frida

The death knell for SPACs?

It was a tough day for special purpose acquisition companies, or SPACs, which had already fallen out of favor after roughly 18 months in the limelight. First, Senator Elizabeth Warren announced today

EV SPACs are facing a new regulatory speed bump

It’s been a bumpy road for the electric vehicle startups that rushed to go public over the past two years by merging with a publicly traded shell company. Now, the SEC’s broadest attempt to crackd

Latch, a proptech meets SaaS play, conducts two consecutive weeks of layoffs

Latch, a proptech smart lock company that raised $152 million in known private capital before debuting on the stock market through a SPAC last year, is conducting another round of layoffs. Earlier thi

Data intelligence startup Near, with 1.6B anonymized user IDs, lists on Nasdaq via SPAC at a $1B market cap; raises $100M

The IPO window has all but closed for technology companies in the wake of a massive downturn in the market, but an opening still remains for some, in the form of SPACs. Near — a data intelligenc

Bird changes course, drops vehicle sales in pursuit of profitability

Bird presented its first quarter 2022 earnings on Monday after the bell. Revenue has decreased consistently since the company went public via a special purpose acquisition merger in November last year

Reggie Fils-Aimé talks web3, AR and his gaming SPAC

In February 2019, Reggie Fils-Aimé announced that he would be leaving Nintendo after 16 years — 13 of which were spent as the president and COO of the company’s North American division. It wa
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