Published on 30 Aug 2022 on Business Insider via Yahoo Finance
Startups that rode the SPAC wave are turning to a new tactic for funding lifelines. Here's what you...
You may recall the loss-making smart-glass manufacturer View Inc. that my colleague Hayley Cuccinello and I have chirped on about for almost a year now.
Well, it is still burning through cash. View incurred $21 million in R&D costs in the second quarter and $41 million in expenses because of legal, consulting, and accounting expenses related to an audit conducted last November. This was against $33 million in revenue for the first half of 2022.
But importantly, View is again in need of capital. This month, the glass maker said it inked a $100 million common stock purchase agreement — think of it like a line of credit in exchange for more equity in the company — with Cantor Fitzgerald.