At least eight companies that went public through “special-purpose acquisition companies” (SPACs) in the last year have now filed bankruptcy, Bloomberg reported.
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COMPANIES LEASING LESS WAREHOUSE SPACE
U.S. companies leased 132 million square feet of warehouse space in 2022’s final quarter, 28.2 percent less than in the third quarter, real estate services firm Cushman & Wakefield reported.
AS FORECAST: “DIMMING HOPE” THAT PRE-COVID DEMAND FOR OFFICE SPACE WILL RETURN, WSJ SAYS
Workers are returning to companies’ central offices but not in the numbers that pertained to before the COVID War. There is “dimming hope that office buildings will ever refill,” The Wall Street Journal noted.
BIG TECH DUMPS OFFICE SPACE
Since the Internet Revolution began in the 1990s, major technology firms have gobbled up prime office space in Austin, Baltimore, Boston, Detroit, Nashville, Los Angeles, New York, San Diego, San Francisco, and other centers of innovation.
EMROD PROPOSES A SPACE-BASED “WORLD ENERGY MATRIX”
The idea of collecting solar energy out beyond Earth’s atmosphere and then beaming it to receivers on the ground has been around for years; experiments have shown the concept is feasible.
SPACs: WHAT GOES UP…
Special-purpose acquisition companies (SPACs), a sneaky way to skirt federal regulations and take fledgling companies public, was one of the hottest investment vehicles of 2021, attracting celebrities from Serena Williams to Jay-Z. Now their temperature is sub-zero. A SPAC or “blank-check company” is a special category of company that goes public, typically at $10 a...
AS FORECAST: COMPANIES CUTTING OFFICE SPACE
When the COVID War was launched back in 2020, we had forecast the work-at-home trend would be a permanent part of the new world order… and it has. With costs rising and a recession looming, U.S. companies are cutting costs by axing office space they no longer need and never will again. The permanent shift...
INVESTORS TURN THEIR BACKS ON SPACs
Investors have lost interest in special-purpose acquisition companies (SPACs) just when SPACs need them most. A SPAC or “blank-check company” is a special category of company that goes public, typically at $10 a share, even though it has no assets. When it has stockpiled enough capital, the SPAC buys and merges with a promising company...
GOLDMAN BACKS OUT OF SPACs
Goldman Sachs Group is ending its relationship with most of the special-purpose acquisition companies (SPACs) it helped to take public over the past two years, people familiar told Bloomberg. The company—the second largest underwriter of SPACs since 2020—is worried about its liability for SPACs’ performance under new regulatory guidelines. A SPAC or “blank-check company” is...
DELOITTE ABANDONS MORE LONDON OFFICE SPACE
Deloitte Touche Tohmatsu, one of the world’s so-called “Big Four” accounting and business consulting firms, is giving up a 185,000-square-foot building in New Street Square, a prestigious office address in the heart of London, the company has announced. Deloitte also decided not to reopen another London office; it closed early in the COVID era and...