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The SEC said in a letter to the company that it won t recommend any action against the startup, following an investigation into whether Bolt violated securities laws during fundraising. ....
The SEC is reportedly investigating whether federal securities laws were violated in connection with statements made when Bolt was raising money in 2021. ....
Ryan Breslow, co-founder of the e-commerce software outfit Bolt, was subpoenaed along with the company last year by the U.S Securities and Exchange Commission. A letter authored in April by a lawyer representing Bolt investors said the SEC was investigating whether federal securities laws were violated in connection with statements made when Bolt was raising money in 2021. The letter was sent to Bolt’s general counsel as part of a demand to inspect the company's records on behalf of two Bolt investors, Brian Reinken of WestCap Management and Arjun Sethi of Tribe Capital Management, who were Series C and B investors, respectively. ....
Arrow Capital-backed tech SPAC Tribe Capital Growth raises $240m in US IPO Photo: REUTERS/Beawiharta March 8, 2021 Tribe Capital Growth I, a tech-focused blank check company formed by Silicon Valley-based early-stage venture capital firm Tribe Capital Management and Singapore-led investment advisory firm Arrow Capital, has raised $240 million in its initial public offering (IPO) on the Nasdaq. The special purpose acquisition company (SPAC) offered 24 million units at $10 each, with every unit composed of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The units are trading under the ticker ATVCU. In a statement, the SPAC said it will seek a target in the technology sector, pursuing M&A opportunities with top private technology companies showing inflection in their growth trajectory. ....