The Latest SPAC News and Rumors: June 30, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Enjoy Technology files for bankruptcy, D-Orbit signs launch and deployment contract with Kepler Communications and Bird CEO steps down as president
SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public
Enjoy Technology Inc. (NASDAQ:ENJY), a retail startup founded by former Apple Inc.executive Ron Johnson, filed for bankruptcy on Thursday — less than a year after going public through a merger with a blank-check company.
The company plans to keep operating and sell itself to Asurion LLC while in Chapter 11 bankruptcy, court papers show. Asurion has agreed to lend $52.5 million of new money to fund the Chapter 11 case.
READD-Orbit Signs Launch and Deployment Contract with Leading Satellite Telecom Provider Kepler Communications
D-Orbit, the space logistics company that is going public through a transaction with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), today announced the signing of a launch and deployment contract with Kepler Communications, a private telecommunications company based in Toronto, Ontario, Canada.
As previously announced on January 27, 2022, D-Orbit entered into a business combination agreement with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), a publicly traded special purpose acquisition company.
READBird CEO Travis VanderZanden steps down as president
Shared micromobility company Bird’s (NYSE:BRDS) board of directors has appointed Shane Torchiana as president of the company, replacing the company’s CEO and founder Travis VanderZanden. The new roles will begin effective June 29, per a regulatory filing.
VanderZanden, who previously served as the chief operating officer (COO) at ride-hailing company Lyft, will stay on as CEO of Bird and chair of the board of directors.
The Santa Monica–based e-scooter and e-bike sharing company is one of two micromobility companies to debut on the public markets, alongside Helbiz, both of which came to fruition via mergers with a SPAC. Bird debuted on the NYSE on November 5 via a merger with Switchback II. The company initially traded at $8.34 per share, with an expected valuation of around $2.3 billion.
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