Smart Building SPAC Trend Continues with Hybrid Work Play CXApp

Source: Memoori, Smart Buildings

Since 2019 the business world has been inundated with high-profile SPAC deals. And while we have certainly seen a slowdown in SPAC deals in recent months, the SPAC trend is by no means over. In the smart building industry, a new SPAC was completed this month, as workplace experience platform provider CXApp completed a business combination with KINS Technology Group. In this research note we discuss the deal, based on the CXApp Investor Deck, KINS 10-K document and the ongoing SPAC trend. “For anyone looking to evaporate a large pile of money, the past year has presented abundant options. Of those, one of the faster and more effective methods involved investing in tech companies going public via SPAC,” reads a December 2022 CrunchBase study. “Out of a selected set of 50 completed SPAC deals, 24 were trading below $1 per share, that means they’re down 90%. No company on our list even has shares trading […]