Waitr: What We Got Wrong

Q3 results were a disaster, missing all our targets substantially. Expenses remained elevated and revenues declined sequentially, leading to elevated losses. A lawsuit targets Waitr management for lying to investors and shows the poor fundamentals. We have learned not to invest in SPACs as management are incentivised to do less due diligence. When we first …

Billionaire Tilman Fertitta launches another blank-check co. with $275M IPO

Houston billionaire Tilman Fertitta’s second blank-check company has raised $275 million to be used in a future business combination. Landcadia Holdings II Inc. priced its initial public offering of 27.5 million units at $10 each, according to a May 6 press release. The company will begin trading on the Nasdaq Capital Market under the ticker …