Tale of two SPACs: One strikes a deal as tur­bu­lent mar­ket forces an­oth­er to dis­solve

The SPAC mar­ket con­tin­ued its rough year Mon­day, as one blank check com­pa­ny is set to move for­ward on a deal while an­oth­er dis­solved.

De­but­ing last year, San­a­by Health came on­to the scene dur­ing the SPAC boom with the usu­al buzz­words for its strat­e­gy, but it ap­pears that it couldn’t hold on in the cur­rent ecosys­tem. The com­pa­ny an­nounced that it in­tends to dis­solve and liq­ui­date by Wednes­day.

In a re­lease, the com­pa­ny said, “that due to its in­abil­i­ty to con­sum­mate an ini­tial busi­ness com­bi­na­tion with­in the pe­ri­od re­quired by its Amend­ed and Re­stat­ed Cer­tifi­cate of In­cor­po­ra­tion,” it had to be­gin the liq­ui­da­tion process.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER