Ex-SPAC Starry Goes Bankrupt Less Than One Year After Merger

Starry Group Holdings, an internet provider, filed for Chapter 11 bankruptcy in Delaware less than a year after going public via merger with a blank-check company.

The Boston-based firm, which operates in major cities like Los Angeles and New York, listed assets and liabilities of as much as $500 million each in its bankruptcy petition. The Chapter 11 filing allows the company to keep operating while it seeks approval of a restructuring plan.

In March of 2022, the company went public by merging with a SPAC known as FirstMark Horizon Acquisition Corp., court papers show. More than ...