Monday, July 26, 2021

Jam City Abandons SPAC Effort

Los Angeles-based mobile game developer Jam City and special purpose acquisition company (SPAC) DPCM Capital said late Friday that the two comapnies are terminating their efforts, where DPCM Capital would acquire Jam City in a SPAC deal. The two companies cited "current market conditions" for calling off the deal. The two said calaling off the deal is the "best path forward for the parties and their respective stockholders." Jam City is led by CEO Chris DeWolfe, the former co-founder of MySpace, and COO Josh Yguado. Jam City and DPCM Capital launched the SPAC effort in May.

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