The Latest SPAC News and Rumors: December 29, 2022


The Latest SPAC News and Rumors: December 29, 2022


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

Latest SPAC News: Vertical Farming is latest 2022 tech layoffs victim, SeaStar Medical and Nuwellis enter into license and distribution agreement, and Complete Solaria and Freedom I achieve important milestones

Futuristic Vertical Farming Startups Are Struggling in the Tech Downturn

When the market was booming, tech investors poured billions into companies designing new ways of farming. Now some of those bets appear to be wilting.

Fifth Season, a Pittsburgh-based vertical farming company, told employees this fall it was shutting down. Berlin-based Indoor Urban Farming GmbH, valued at more than $1 billion, laid off about 500 employees last month. And greenhouse startup AppHarvest (NASDAQ:APPH), which went public through a special purpose acquisition company last year, has seen its stock sink more than 90% since its 2022 high. After telling investors it was low on funds, AppHarvest recently sold one of its farms and plans to rent it back.


SeaStar Medical and Nuwellis Enter into a U.S. License and Distribution Agreement for SeaStar Medical’s Selective Cytopheretic Device for Pediatric Acute Kidney Injury

SeaStar Medical Holding Corporation (Nasdaq: ICU) (SeaStar Medical) and Nuwellis, Inc. (Nasdaq: NUWE) (Nuwellis) announce an exclusive U.S. license and distribution agreement by Nuwellis of SeaStar Medical’s Selective Cytopheretic Device (SCD) for the treatment of acute kidney injury (AKI) in children. Nuwellis will market and distribute the SCD through its direct salesforce to nephrologists and intensive care physicians who are trained in pediatric extracorporeal therapy.

SeaStar completed its combination with LMF Acquisition Corp. in October 2022.


Complete Solaria and Freedom Acquisition I Corp. Achieve Important Milestones Towards Completion of Business Combination 

Complete Solaria, Inc., a leading solar technology, services, and installation company, and Freedom Acquisition I Corp. (NYSE: FACT), a publicly traded special purpose acquisition company, announced a number of positive financial developments in connection with their proposed business combination

Complete Solaria combined two highly complementary businesses in a vertically integrated manufacturing and distribution model, delivering end-to-end residential solar solutions, with world-class customer service, aesthetically appealing, high-performance solar panels, as well as project financing, design and software solutions.