SPACs are Great Alternative for Tech: Vinod Khosla

Shareholder claims against CBS Entertainment ex-president Jeff Sagansky, former MGM Studios chairman Harry Sloan, and other architects of the merger between Skillz and Flying Eagle Acquisition will move forward after a Delaware judge, Vice Chancellor Paul A. Fioravanti Jr., found them sufficient.

The probe covers Canoo’s merger with Hennessy Capital Acquisition IV, completed in December, plus its “operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics, along with the recent departures of certain of the company’s officers.”

A deal could value the California-and-Texas firm at about $10 billion.

Reuters analyzed hundreds of SPACs spanning roughly two years, reviewed banks’ internal documents and regulatory filings, and interviewed more than two dozen bankers, investors, SPAC managers, lawyers and corporate executives.