What Happened to Grove Collaborative Holdings?
Ticker: GROVSPAC Year: 2021Merger: 2022
Return
-86.0%
Current Price
$1.4
Peak Price
$62.51
Trust Size
$53M
Summary
Grove Collaborative is an e-commerce company selling sustainable household, personal care, and cleaning products through its online direct-to-consumer platform.
What Happened
Grove Collaborative went public in June 2022 through a merger with Virgin Group Acquisition Corp II (backed by Richard Branson). The company sells eco-friendly cleaning supplies, personal care products, and household goods through its website and app. Despite a loyal customer base, Grove has struggled with high customer acquisition costs and slowing growth, conducting a reverse stock split to maintain its Nasdaq listing.
Timeline
2021-03-15
S-1 Registration Filed
2022-05-16
Merger Proxy Filed (DEFM14A)