Articles tagged “spacs”

Short-Term Rentals

Sonder Exited 60 Buildings, Gains $10 Million in Refinancing Deal

Sonder is on a painful drive to rid itself of bad leases, to renegotiate others, and then it has to restate two years of earnings. This isn't easy stuff.

Dennis Schaal | 5 months ago

Sonder Exited 60 Buildings, Gains $10 Million in Refinancing Deal

Short-Term Rentals

Inspirato Appeals Nasdaq Delisting Decision

This is another proof point that much of the SPAC trend of a few years ago was a dud.

Dennis Schaal | 5 months ago

Inspirato Appeals Nasdaq Delisting Decision

Short-Term Rentals

Sonder Faces Potential Nasdaq Delisting —Again

Sonder's second notice of potential delisting is for a different reason than the first notice a year earlier. Neither, though, is a good look for the struggling company.

Dennis Schaal | 7 months ago

Sonder Faces Potential Nasdaq Delisting —Again

Business Travel

Expedia Recorded $326 Million in Losses on Its Stake in Amex Global Business Travel Group

Expedia Group's equity stake in American Express Global Business Travel has taken a shellacking to date, but other aspects of the deal have long-term benefits.

Dennis Schaal | 9 months ago

Expedia Recorded $326 Million in Losses on Its Stake in Amex Global Business Travel Group

Online Travel

Booking Holdings CEO Recalls Road Back From Reverse Stock Split to $3,500 Per Share

One challenge for struggling travel SPACs beyond their stock prices is to create something new that's truly valuable to their customers. Booking.com did just that years ago, although others have caught up in the interim.

Dennis Schaal | 10 months ago

Booking Holdings CEO Recalls Road Back From Reverse Stock Split to $3,500 Per Share

News Blog

Sonder’s 1-For-20 Reverse Stock Split to Become Effective Wednesday at Market Close

Sonder announced Tuesday that its 1-for-20 reverse stock split would become legally effective after market close Wednesday, and that its shares would start trading on that basis Thursday morning. The move is geared to get the stock trading at more than $1 per share in compliance with Nasdaq rules. "As of the Effective Time, every…

Dennis Schaal | 1 year ago

News Blog

Hotel Brand Selina Sees Upswing in Financial Performance

Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results. In the second quarter, the company generated $52.5 million in revenue, a bump of 15.9% year-over-year. Factors included higher occupancy rates, reductions in corporate overhead, and essentially…

Sean O'Neill | 1 year ago

Hotels

Hotel Brand Selina’s Wild Ride as a Penny Stock: Here’s What We Know

Selina's stock price stabilized on Monday after a sharp drop to an all-time low on Friday. The chain of premium hostels and coworking spots is taking steps to escape penny-stock status.

Sean O'Neill | 1 year ago

Hotel Brand Selina’s Wild Ride as a Penny Stock: Here’s What We Know

News Blog

Sonder Sets Shareholder Meeting to Approve Stock Split to Stay on Nasdaq

Sonder shareholders will vote in a special meeting September 15 on whether to give the board approval to carry out a reverse stock split — with the split ratio subject to the board's discretion. Sonder CEO Francis Davidson on stage with Skift Director of Research Seth Borko at the Skift Short-Term Rental Summit on June…

Dennis Schaal | 1 year ago

Short-Term Rentals

Sonder Proposes Reverse Stock Split to Stay Listed on Nasdaq

A reverse stock split would give Sonder some breathing room, and who knows, it may even tempt institutional investors to take a look.

Dennis Schaal | 1 year ago

Sonder Proposes Reverse Stock Split to Stay Listed on Nasdaq