Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar slides to new low as EV maker’s operating loss widens and SOC Telemed acquires behavioral health company Forefront
Polestar Slides to New Low as EV Maker’s Operating Loss Widens
Polestar (NASDAQ:PSNY) Automotive Holding’s operating loss widened in the first half as the electric-vehicle maker struggles with rising costs for auto parts and expanding abroad.
Polestar, which went public in New York in June, said revenue surged 95% to $1.04 billion on higher vehicle shipments. Still, the manufacturer’s operating loss more than doubled in the period due to the expense of its rapid expansion and a one-time share-based listing charge related to its merger with a blank-check company.READ
SOC Telemed Acquires Behavioral Health Telemedicine Company Forefront
SOC Telemed (NASDAQ: TLMD) on Thursday announced its acquisition of Forefront Telecare, a company that specializes in behavioral health telemedicine services. Financial terms of the deal were not disclosed.
The Dallas-based SOC Telemed bills itself as the largest national provider of specialty acute care telemedicine. The company, founded in 2004, has been a pioneer in in-patient telemedicine, working with more than 2,500 active telemedicine programs across 10 medical specialities in hospitals in every state.
SOC became a private company when the Patient Square Capital transaction was finalized about four months ago. Originally, SOC went public in November 2020 via a merger with Healthcare Merger Corp., a SPAC.READ