EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: The SVB Collapse and SPACs

Industry Report · 20 Mar 2023

In the ordinary course of SPAC business. In what has become the norm in SPAC land these days, we can report another flurry of liquidation announcements. As we begin the second half of the month, the liquidation count for March, including those that have been completed or are scheduled to be compl...

EMERGING GROWTH & SPECIAL SITUATIONS

Gaia, Inc. (NASDAQ: GAIA)

Fireside Chat: CFO Paul Tarell, March 27, 2023, at 2:00 pm ET

Fireside Chat Invitation · 17 Mar 2023

Please join us for a conversation with Gaia CFO Paul Tarell on March 27, 2023, at 2:00 pm ET. We will discuss Gaia’s recent results and the dynamics affecting membership growth.

EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: The Deal or Bust Cycle Set to Continue

Industry Report · 13 Mar 2023

The liquidations count continues to rise. While the SPAC IPO market appears to have gone back into its slumber with no pricings to report yet in March, the main theme of the SPAC market continues to be liquidations, as it has been particularly since October 2022. So far in March, 26 SPACs are sla...

EMERGING GROWTH & SPECIAL SITUATIONS

Gaia, Inc. (NASDAQ: GAIA)

Company Appears to Be Back in Growth Mode in 2023 After a Challenging 2022

Update Note · 07 Mar 2023

Gaia reported 4Q22 revenues of $19.6 million versus $20.8 million in 4Q21, and 2022 revenues of $82.0 million versus $79.6 million in 2021. Given the small Yoga International acquisition in December 2021, this implies some revenue contraction in the core business for 2022.

EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: Crushed Warrants Still Warrant Caution

Industry Report · 03 Mar 2023

SPACs are still heading for the exits in droves. While the six IPO pricings that occurred last month would ordinarily be nothing to write home about, February 2023 happened to be the most active month for SPAC IPOs since May 2022, which was the last time a month produced six IPOs. However, while ...

EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: Who Could Be Next in Line for Bankruptcy?

Industry Report · 24 Feb 2023

Starry-eyed and bankrupt. Less than a year since its de-SPACing, broadband provider STRY became the third de-SPAC to succumb to bankruptcy in the first seven weeks of 2023 and the 10th since June 2022 when the trend in de-SPAC bankruptcies began. The latest casualty, STRY, filed voluntary petitio...

EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: Back to the Future for Underwriters?

Industry Report · 16 Feb 2023

Liquidations continue at historically elevated levels. This week produced two more SPAC IPO pricings, with each IPO raising initial gross proceeds of $60 million. This brings the total number of pricings in February thus far to five, a number we have not seen since last May. However, the revolvin...

EMERGING GROWTH & SPECIAL SITUATIONS

SPAC Talk: The Peripheralization of De-SPACs

Industry Report · 10 Feb 2023

Deal terminations return to the spotlight. The past couple of months have seen a pickup in abandoned IBC deals. Following nine deal cancelations in December, the second-highest monthly total in 2022 behind 10 in August, the first five weeks of 2023 have seen eight deals bite the dust—four in Janu...

EMERGING GROWTH & SPECIAL SITUATIONS

XWELL, Inc. (NASDAQ: XWEL)

Company Looking to Grow Both the Spa Business and the CDC Contract in 2023 and Achieve Profitability

Management Series · 09 Feb 2023

After more than two years of fundamental business uncertainty caused by the COVID crisis, XWELL management is in a position to formulate a clear strategic plan and focus on execution rather than managing macro disruptions caused by the pandemic.