Home Finance SeatGeek and Forbes Nix SPAC Deals During Market Pullback

SeatGeek and Forbes Nix SPAC Deals During Market Pullback

by Enochadmin

Ticketing platform SeatGeek and media outlet Forbes International Media Holdings Inc. terminated their mergers with blank-check corporations on Wednesday, underscoring the challenges of taking firms public throughout this yr’s stock-market turbulence.

SeatGeek and Forbes turned the newest firms to finish mixtures with special-purpose acquisition firms, or SPACs, after many buyers soured on the once-hot various to conventional preliminary public choices. With rising rates of interest and excessive inflation buffeting shares, many firms are electing to boost cash privately as a substitute of pursuing public listings, which skyrocketed to file ranges final yr.

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