Ex-SPAC Rockley Photonics Files for Chapter 11 Bankruptcy

Rockley Photonics Holdings filed for Chapter 11 bankruptcy in New York on Monday, less than two years after going public via a merger with a blank-check company.

Rockley, which makes light-sensing computer chips, listed assets of at least $50 million and liabilities of at least $100 million in its bankruptcy petition. The Chapter 11 filing allows the company to keep operating while it seeks approval of a restructuring plan.

The company went public by combining with SC Health Corp. in August 2021, according to regulatory filings. It’s just the latest in a handful of ex-SPACS to go bankrupt ...