The Binance-supported deal for Forbes to go public via a SPAC has been called off, according to a report in The New York Times. By mikeybellusci
The Times attributed the decision, which would have
through a merger with Hong Kong-based SPAC Magnum Opus Acquisition, to waning interest in the once-popular investment vehicle as several recent SPACs have not performed well. The decision could be announced as soon as this week, the Times said.in Forbes and Magnum Opus Acquisition to help fund Forbes' digital growth in a deal that would make Binance one of the top investors in the media firm.
At the time, Binance CEO Changpeng"CZ" Zhao said that"as Web 3 and blockchain technologies move forward and the crypto market comes of age we know that media is an essential element to build widespread consumer understanding and education. We look forward to bolstering Forbes’ Digital initiatives, as they evolve into a next level investment insights platform.Meanwhile, Axios
that the deal had until the end of business on Tuesday to file paperwork with the SEC to close its merger, and that if nothing is filed, either party involved can walk from the deal.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Difficult decisions' for Kate ForbesFinance Secretary Kate Forbes prepares to set out her spending plans for the next few years at Holyrood.
Read more »
Binance Will Support the IoTeX (IOTX) and Zcash (ZEC) Network Upgrades & Hard Forks | Binance SupportFellow Binancians, Binance will support the IoTeX (IOTX) and Zcash (ZEC) network upgrades and hard forks. The IoTeX (IOTX) network upgrade and hard fork will take place at the IoTeX block height o...
Read more »
Binance Staking Completes First Phase of Terra 2.0 (LUNA) Airdrop Distribution | Binance SupportFellow Binancians, Binance Staking has completed the first phase of the Terra 2.0 (LUNA) airdrop to LUNA (old) and UST (old) Locked Staking users on Binance. 30% of the total airdrop amount for LU...
Read more »
Binance VIP Program Upgrade: Enjoy VIP 9 Equivalent Spot Trading Fees | Binance SupportFellow Binancians, Binance is upgrading the fee structure of the Binance VIP Program, which will be effective from 2022-06-01 08:00 AM (UTC) . All VIP 4 and above users will be able to enjoy the ...
Read more »
Breakingviews - Geely-backed auto SPAC deal revs up too fastLi Shufu is in the fast lane again. Geely’s founder who is best known for buying Swedish carmaker Volvo has signed up for the largest listing of a company hailing from the People's Republic through a special-purpose acquisition company. It’s a bold move with ride-hailing company Didi's experience as a public company in New York still so raw.
Read more »