SPAC Blowups Mount With Fast Radius Bankruptcy, Arrival Warning

The raucous SPAC boom that allowed companies to go public at eye-popping valuations is resulting in another rapid blow up, while an electric van and bus maker warned it may not be far behind.

Cloud manufacturing company Fast Radius Inc., which went public through a blank-check merger in February, filed for Chapter 11 bankruptcy on Monday after failing to raise cash to keep running. The filing came hours before Arrival -- a vehicle producer that forecast it could generate $14.1 billion in revenue in 2024 -- warned it doesn’t have the cash to keep its doors open for another ...