1:49:21 AM PST - Wednesday, December 7th, 2022

HyperloopTT’s SPAC public debut may be going nowhere fast  

By Editor - Tue Nov 22, 3:38 pm

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Hyperloop Transportation Technologies (HyperloopTT) has entered into a definitive merger agreement with special purpose acquisition company (SPAC) Forest Road Acquisition Corp. II, which is led by former Disney executives Tom Staggs and Kevin Mayer. The combined company will list shares at a pre-money valuation of $600 million. In theory, hyperloop technology is a vacuum tube-based system that moves people and goods by levitating capsules at airplane speeds on the ground. The speeds are supposed to be achieved “by using passive magnetic levitation technology and a linear electric motor in a tube with minimal pressure, reducing resistance,” according to HyperloopTT. The goal is to provide a clean, safe, efficient form of transport.

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HyperloopTT’s SPAC public debut may be going nowhere fast

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