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Four spac offerings aborted as investors flee blank checks

Bloomberg4/24/2022 04:25 PM GMT+08  • 2 min read
Four spac offerings aborted as investors flee blank checks
Spacs have been stung by sketchy accounting and gut-wrenching stock drops. Photo: lo lo on Unsplash
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Plans for four new blank-check firms have been pulled in less than 24 hours by the serial dealmakers at Navigation Capital Partners as the once frenetic industry goes cold.

Navigation won’t proceed with efforts to raise US$150 million apiece for Navigation Capital Acquisition VI, VII, VIII and IX, regulatory filings show. The shelved special-purpose acquisition companies counted investors Lawrence Mock and David Panton as chairmen of two.

Another was led by CEO Lonnie Johnson, inventor of the “Super Soaker” water gun, and one featured Super Bowl champion Jerome “the Bus” Bettis on its board.

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