A troubled SPAC plans to buy iRocket for $400M but it already returned most of its cash: https://t.co/EJE66RpuUv by TechCrunch #infosec #cybersecurity #technology #news
New: The SPAC that wants to take small launch startup iRocket public in a $400MM deal has just $1.6 million in its trust. That is 0.5% of the original $345MM after shareholder redemptions. Link in reply ⬇️ https://t.co/oR9WWtQtK2
A troubled SPAC plans to buy iRocket for $400M but it already returned most of its cash | TechCrunch https://t.co/MLZl68terp
Rocket Companies has completed its acquisition of Redfin in a deal valued at approximately $1.75 billion to $2 billion, combining America's largest mortgage lender with one of the most-visited real estate brokerage platforms. This acquisition aims to create a comprehensive service for homebuyers by integrating mortgage and real estate brokerage services. As part of the partnership, Rocket has introduced a new program called Rocket Preferred Pricing, which offers homebuyers who use Rocket Mortgage in conjunction with Redfin agents a 1% mortgage rate reduction for the first year or a $6,000 credit. The integration extends across Rocket's mortgage-related platforms, enhancing the customer experience. Separately, a troubled special purpose acquisition company (SPAC) plans to acquire launch startup iRocket in a $400 million deal, despite having returned most of its cash to shareholders and currently holding only $1.6 million in trust, a fraction of its original $345 million after redemptions.