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Electric vehicle startup Faraday Future aims to close a deal soon to go public through a reverse merger with a special-purchase acquisition company (SPAC), its CEO said on Monday.
“We are working on such a deal … and will be able to announce something hopefully quite soon,” Carsten Breitfeld said of the possibility of a SPAC deal.
Breitfeld declined to say who Faraday is negotiating with or when a deal would close.
A SPAC is a shell company that raises money through an initial public offering to buy an operating entity, typically within two years.
SPACs have emerged as a quick route to the stock market for companies, particularly auto technology startups, and have proven popular with investors seeking to echo Tesla Inc.’s high stock valuation.
Breitfeld, who joined the Los Angeles-based company as CEO last year, also said the company would deliver its first electric luxury SUV, the
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As we’ve seen in the previous articles on remote working and building better business continuity, the challenging conditions of 2020 have changed how we work, and for many of us, working remotely is the way forward. That has had a substantial impact on IT environments and the priorities of enterprises of all sizes, but there’s one other piece of the puzzle — the “soft” impacts of remote working on staff, and how to manage that to maintain productivity, efficiency, and morale.
Earlier this year, a study found that over half of employees were feeling “burned out” by their jobs, and the principle causes of this were the lack of separation between work and life, and an unmanageable workload. The problem that many organisations have faced is that through the mad scramble to enable remote work as social distancing and lockdowns became mandatory, the focus was on work enablement rather than