Arrival is running out of cash — and fast
The high cost of trying to develop and produce vehicles, a business pivot and three restructurings has taken a toll on commercial EV maker Arrival. And it doesn’t look like it’s going to g
Intuitive Machines’ post-SPAC war chest depleted by shareholder redemptions
Lunar technology company Intuitive Machines received far less cash from its merger with a special purpose acquisition company (SPAC) than it forecasted, according to filings with the U.S. Securities a
Stratospheric balloon company World View to go public in $350M SPAC deal
World View, a company developing stratospheric balloons for Earth observation and tourism, is heading to the public markets. The company announced Friday that it would merge with special purpose acqui
Canoo sends its EV pickup truck to the US Army for testing
Canoo, the beleaguered EV startup-turned-SPAC, has delivered its first “Light Tactical Vehicle” to the U.S. Army for a demonstration project aimed at showing how its modular electric plat
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
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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