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.