Deals
SPAC Tied to Sammy Hagar, Roger Staubach Is Latest to Pull Plug
- Record 22 blank-check firms have aborted IPO plans in April
- Index of SPAC mergers is down more than 70% from 2021 high
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A blank-check firm whose board counted rock star Sammy Hagar and Hall of Fame quarterback Roger Staubach among its directors is the latest to cancel its debut as investors flee the sector.
Special-purpose acquisition company Victory Acquisition Corp. won’t proceed with efforts to raise $250 million, regulatory filings show. The shelved SPAC had James Lites, the chairman of the National Hockey League’s Dallas Stars, as chief executive. It’s the 22nd blank-check firm to abort its public offering this month.