The Latest SPAC News and Rumors: February 13, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Foris Ventures backs Complete Solaria and Rigetti Computing to lay off 28% of staff
John Doerr to Back Solar Company Ahead of Merger With Thiam’s SPAC
The investment firm of John Doerr, the billionaire chairman of Kleiner Perkins, will put $10 million into Complete Solaria, the solar company that’s merging with the blank-check vehicle started by Tidjane Thiam, a former CEO at Credit Suisse Group AG.
Last October, Freedom Acquisition I Corp. (NYSE:FACT), a special purpose acquisition company set up by Thiam, agreed to combine with solar startup Complete Solaria. Complete Solar Solution Inc. and Solaria merged into Complete Solaria as part of the deal, which is expected to close in the first half.
READQuantum computing Rigetti Computing to lay off 28% of staff, replace CFO & CTO
Hybrid quantum-classical computing company Rigetti Computing (NASDAQ:RGTI) plans to lay off 28 percent of its staff, and replace its CFO and CTO.
The company faces a possible delisting from the Nasdaq stock exchange over the low value of its stock, and has until July 24 to maintain a $1 stock price for 10 consecutive days.
Rigetti went public in March 2022 via a SPAC merger with Supernova Partners Acquisition Company II, Ltd. Its stock reached a high of around $8.81 in May 2022 and has been trending downwards since.
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