Palantir Stock Is Sliding. One of Its Investments Just Went Bankrupt.

Palantir


stock is coming under selling pressure amid concerns about the implications of a chapter 11 bankruptcy filing last week by


Fast Radius


a provider of cloud-based manufacturing and supply chain software. 

Fast Radius (ticker: FSRD) went public in February via a merger with a SPAC, or special-purpose acquisition company, called ECP Environmental Growth Opportunities Corp. In a financing related to the deal, Fast Radius raised additional cash via a PIPE, or public investment in private equity offering. As part of that deal, Palantir invested $20 million, buying 2 million Fast Radius shares at $10 each.