SPAC backed by Tiger Woods fails as industry crumbles

Sports & Health Tech Acquisition Corp, a special-purpose acquisition company backed by professional golfer Tiger Woods, asked to withdraw its registration for an IPO filing with the US Securities and Exchange Commission. — Reuters

NEW YORK: Sports & Health Tech Acquisition Corp, the blank-cheque firm backed by professional golfer Tiger Woods, has dropped its plans for a US$150mil (RM655.1mil) initial public offering (IPO).

The special-purpose acquisition company (SPAC) asked to withdraw its registration for an IPO filing with the US Securities and Exchange Commission (SEC).