Vivint Seeks SPAC Stock Fix, Says $2.8 Billion Deal Threatened

Vivint Smart Home Inc.—which is set for a $2.8 billion sale to NRG Energy Inc.—is now one of a dozen businesses requesting a judicial fix for stock authorized as part of a blank-check merger with a special purpose acquisition company.

The “smart home” tech maker docketed a court petition Friday seeking to validate shares it may have technically issued without stockholder authorization after potentially misinterpreting an obscure statutory provision.

The uncertainty could “cause market disruption, jeopardize the commercial relationships of the company, result in claims from holders of such shares, and lead to consequent loss of value,” as well ...