UniUni, a Canadian last-mile delivery company that carries parcels for Shein and Temu, signed a term sheet for a new private funding round with an existing investor it didn’t name, after the SPAC set to take it public signaled it may back out. MAK Acquisition, a TSX-listed SPAC led by former Dye & Durham CEO Matthew Proud, agreed in May to merge with UniUni, but filed a notice last month saying UniUni’s business and finances had deteriorated and that its losses had gone past the limit the agreement allows. UniUni said the new money should shore up its finances heading into peak delivery season.
