The Latest SPAC News and Rumors: March 7, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: WeWork in discussions for fresh equity raise, and Mark Ein-backed SPACs scrap IPO plans

WeWork Explores Fresh Equity Raise Amid Stock Slump

WeWork Inc. (NYSE:WE) is in discussions to raise new equity after the co-working company’s shares fell by more than half since its October public debut. The stock plunged to a record low on the news.

The talks were kick-started by investor interest and the capital raise may be structured as a PIPE. New York-based WeWork is looking at bringing in more than $200 million.

Led by Chief Executive Officer Sandeep Mathrani, WeWork made its public markets debut in October following a merger with BowX Acquisition Corp. The shares plunged as much as 24% Friday to $4.66, a record low.

Investor Mark Ein-Backed SPACs Scrap U.S. IPO Plans

Two blank-check vehicles backed by investor Mark Ein have withdrawn their plans for initial public offerings in the United States, according to regulatory filings on Friday, joining a slew of companies that have canceled listings this year.

The withdrawal by Capitol Investment Corp. VI and Capitol Investment Corp. VII comes at a time when volatility in the U.S. market has spiked, triggered by geopolitical tensions, rate hike concerns and uneven earnings.