Law \ Legal

Forbes Hopes Someone Is Still As Desperate, Delusional As A SPAC

It must have seemed to good to be true: A suitor willing to value Forbes magazine at $630 million, even without its flash Greenwich Village digs. And, of course, it was, because that suitor was a special-purpose acquisition company, and like many blank-check companies, the one Forbes agreed to merge with could no longer meet that number, let alone the much higher new number demanded by Forbes’ having “significantly outperformed the financial targets provided at the start of the SPAC transaction last year.”

Source link