WeWork is the highest profile SPAC blowup. The company’s $9 billion valuation in an October 2021 deal — one of the biggest mergers by enterprise value at the time — exemplified the profligacy of a near-zero interest rate environment. “There was a major
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WeWork Joins a Long List of High-Profile SPACs That Have Failed
After a little more than two years as a public company, the infamous office-sharing firm WeWork has filed for Chapter 11 protection. WeWork joins the likes of Core Scientific Inc., one of the largest miners of Bitcoin, and Richard Branson’s
Ares Acquisition Corp., X-energy scrap $1.8B merger due to ‘persistently volatile public markets’
Ares Acquisition Corp. (AAC), which is a special purpose acquisition company affiliated with Ares Management Corp. (ARES), will liquidate. It’s the 165th special purpose acquisition company (SPAC) to dissolve this year. Jay Ritter, Cordell Eminent Scholar and an expert in
IPOs Of The Smallest Companies Post Astonishing Failure Rates, But Bankers Still Win
Cordell Eminent Scholar Jay Ritter shares his insights in this story about credulous retail investors being the biggest losers, according to new research. Read more in this story from Forbes. [Subscription required.]
IPO market: Companies not finding interest they hoped for, analyst says
Recent IPO debuts from companies such as Instacart (CART), Arm Holdings (ARM), and Birkenstock (BIRK), have not delivered the performance many investors hoped for. University of Florida Cordell Eminent Scholar Jay Ritter joined Yahoo! Finance Live to discuss the IPO
IPOs are out of fashion. Here’s what companies are doing instead.
After Kellogg’s separation into two companies, Intel and BlackBerry are planning their own deals. While the current deal landscape on Wall Street remains low on M&A, initial public offerings (IPOs), and other transactions, corporate spinoffs are chugging along. With companies
SEC Sues Elon Musk To Enforce Testimony For Twitter Probe
Forbes’ story, which includes insights from Cordell Eminent Scholar Jay Ritter, highlights why Elon’s pressed about the SEC, the probe into his Twitter takeover and an intriguing rumor that could change the company’s path.
Anchors and small floats mark 2023’s IPO comeback
As the initial public offerings window finally reopens, companies taking the leap are leaning heavily on pre-roadshow marketing, anchor investors and small float amounts. Why it matters: Companies may be going public again, but they’re still cautious. Cordell Eminent Scholar
The stock market is building up to a major ‘buy’ signal
Research insights from Cordell Eminent Scholar Jay Ritter inform this story about how high interest rates aren’t going to keep stocks low much longer. Read the full story from MarketWatch.
Bill Ackman Wants to Take Elon Musk’s X Public. History Says It’s a Risky Move.
Bill Ackman, the hedge fund manager and activist investor, told The Wall Street Journal that he would be interested in a deal with Elon Musk’s X, formerly known as Twitter, to take part of the social media company public via his special
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