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Ucommune Begins Trading On The Nasdaq

China-based shared workspace operator Ucommune has completed a backdoor listing in the U.S. after failing to file for a traditional IPO earlier this year.

The deal led to the listing of Ucommune International Ltd. as an already-listed shell company, also referred to as a special purpose acquisition company (SPAC). The company is now listed on the Nasdaq as of Thursday.

Three months ago, Ucommune walked away from its application for a $100 million IPO on the New York Stock Exchange after investors expressed concerns over the company losing money and its valuation, particularly as the market faced a downturn due to the pandemic.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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