The Blackstone Griddles SPAC IPO is Dead

Another SPAC bites the dust and this time it’s Ackrell SPAC Partners who had an agreement to combine with griddle maker Blackstone Products. This deal seemed unlikely to happen once they filed for their most recent extension back in June and now it’s officially dead.

It seemed like the writing was on the wall when a Blackstone refused to fund a $200k loan for the extension last week and that has proven to be true. The final twist though is it didn’t die just because Ackrell couldn’t find another $200k loan. According to an SEC filing, Blackstone sent notice on August 27th “purporting to unilaterally terminate the Business Combination Agreement”.