As SPAC Boom Subsides, Some De-SPACed Companies Seek Chapter 11 Protection

The contraction of the market for special purpose acquisition companies (SPACs) and the recent challenges de-SPACed companies have encountered have attracted considerable press attention. The stocks of many de-SPACed businesses — companies formed by the merger of a SPAC with an operating business — are trading well below the SPACs' original price, and a number have filed for bankruptcy.
Source: As SPAC Boom Subsides, Some De-SPACed Companies Seek Chapter 11 Protection