Bay Area SPACs announce a merger, a wind-down and an extension - San Francisco Business Times

The days of reckoning continue apace for the blank-check companies birthed in the 2020-2021 boom.

In recent days, three special purpose acquisition companies with Bay Area ties each took one of those three separate paths. But the SPAC that chose the merger route did so in a way that highlighted one of the longstanding criticisms of such deals.with Hammerhead Resources. The Menlo Park SPAC was sponsored by Riverstone Holdings, a New York private equity firm. It just so happens that Hammerhead, a Canadian oil-and-gas company, is a portfolio company of Riverstone.

a previously announced merger with EV Charged B.V., an electric vehicle charging startup based in Amsterdam. The shutdown of TPG Pace follows TPG's move in April to withdraw a planned $450 million IPO for a separate SPAC.. Previously, the Palo Alto SPAC had until Sept. 28 to complete a combination; now it has until March 28.

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