Goldman Sachs pulls its SPAC ipo due to lack of interest

Or as they euphemistically say, "due to market conditions".  According to Reuters:

Goldman Sachs' efforts to launch a new kind of "blank-check" company, Liberty Lane Acquisition Corp, got the cold shoulder both from hedge funds and the traditional stock buyers the bank hoped to win over, and the deal was pulled.

Liberty Lane, a special purpose acquisition company, was Goldman's first foray into setting up the companies known as SPACs, and it was designed to prevent hedge fund investors from messing with the structure.

But even with Goldman's endorsement, Liberty Lane's unique terms made it a tough sell -- especially in a SPAC market that has cooled in the past year.

Pricing for the planned $350 million deal was postponed twice, first last week and again on Tuesday, before the offering was shelved late on Wednesday.

Liberty Lane said in a statement "it has decided not to proceed with its proposed initial public offering at this time due to market conditions."

Goldman pulls Liberty Lane IPO, deal a tough sell - Reuters