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.
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