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Company News

FACTBOX-Blank-check firms cut IPO sizes in early signs of SPAC slowdown

    Nov 17 (Reuters) - A blank-check firm backed by billionaire
Alec Gores became the latest special purpose acquisition company
(SPAC) to slash its offering size, adding to concerns over
whether the blank-check frenzy is showing early signs of a
slowdown.
    A SPAC is a shell company that uses proceeds from an initial
public offering to acquire a private company, typically within
two years.
    Here is a list of blank-check firms that have cut the size
of their offerings recently: 
  
 Company name                 New IPO    Old IPO    Source
                              size       size       
 Gores Holdings Vi            $300 mln   $525 mln               
 10X Capital Venture          $175 mln   $220 mln               
 Acquisition Corp                                   
 L&F Acquisition Corp         $150 mln   $200 mln               
 Better World Acquisition     $100 mln   $125 mln               
 Corp                                               
 Acies Acquisition Corp       $200 mln   $300 mln               
 Arclight Clean Transition    $250 mln   $300 mln   bit.ly/3moRdGs
 Corp                                               
 Bluescape Opportunities      $575 mln   $750 mln               
 Acquisition Corp                                   
 Cerberus Telecom             $250 mln   $400 mln              
 Acquisition Corp                                   
 CONX Corp                    $750 mln   $1 bln                 
 OTR Acquisition Corp         $115 mln   $250 mln   bit.ly/31Paw3M
 Spartacus Acquisition Corp   $200 mln   $250 mln               
 Tekkorp Digital Acquisition  $250 mln   $300 mln   bit.ly/3kzXgr4
 Corp                                               
 Yellowstone Acquisition Co   $150 mln   $200 mln   bit.ly/31MR4VE
 Source: Company filings

 (Reporting by Ambar Warrick and Niket Nishant in Bengaluru;
Editing by Arun Koyyur)
  
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