Two tech companies, Asana and Twilio, listed their shares on the upstart exchange, which is designed to discourage short-term thinking and promote an embrace of all stakeholders, not just shareholders, The New York Times reports. The companies are already listed on the NYSE, making the move largely a technicality, but the exchange hopes others will be encouraged to list there. The exchange has gotten off to a slow start since it was first conceived a decade ago. Read more.
At issue was BuzzFeed’s plan to merge with SPAC 890 5th Avenue Partners. Executives at NBCUniversal were frustrated that the deal valued BuzzFeed at $1.5 billion, below the level where it had invested years earlier.
AUM Media announced that founder Crocker Coulson will be speaking on a panel on "SPAC Incentive Structure" at The SPAC Conference 2021, the largest gathering of SPAC sponsors, investors, and professional advisors in the world.
The poor performance of Waitr, post-merger, triggered a lawsuit that could set precedent for SPAC sponsors' liability if they fail to deliver.
According to Bloomberg analysis of Spacresearch.com data, the median redemption rate for North American SPAC deals completed in July was almost 50%.