SeatGeek and Forbes Nix SPAC Deals During Market Pullback

Ticketing platform SeatGeek and media outlet Forbes terminated their mergers with blank-check firms on Wednesday, underscoring the challenges of taking companies public during this year’s stock-market turbulence.

SeatGeek and Forbes became the latest companies to end combinations with special-purpose acquisition companies, or SPACs, after many investors soured on the once-hot alternative to traditional initial public offerings. With rising interest rates and high inflation buffeting stocks, many companies are electing to raise money privately instead of pursuing public listings, which skyrocketed to record levels last year.

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