said in its statement.The previously announced $150 million convertible notes offering closed concurrently with the business combination.In the days leading up to the vote, BuzzFeed writers walked out and investors pulled their funds as they questioned its prospects.
While it hoped to raise hundreds of millions as a SPAC, it raised just over $16 million as the deal got approved. About 94% of the $287.5 million the SPAC raised earlier this year has been withdrawn by investors, according to its securities filing.A representative for BuzzFeed did not immediately return a request for comment on the first day of trading.Other digital media companies that may enter the field include Vice, Group Nine and Bustle Digital Group.
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