BuzzFeed has wave of SPAC investor withdrawals before going public

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BuzzFeed Inc. is expected to go public today after a wave of investor withdrawals in the special-purpose acquisition company it's merging with.

Roughly 94% of the $287.5 million raised by the SPAC, 890 5th Avenue Partners Inc., has been withdrawn by investors.

BuzzFeed additionally raised $150 million in convertible note financing as part of the SPAC deal.

Read more from The Wall Street Journal.