It has been admitted and the confession is there. After a high of $14 after SPACing on the NASDAQ last week, it has cratered to $6; over 50% down in days. And yes, that includes the same 'BuzzFeed News' that is under BuzzFeed Inc, as if that matters in this SPAC given that was repeatedly brought up. [0]
Either way, the investors and the markets do not care.
The employees couldn't sell either. At least they provided great shareholder value for the other SPAC investors who withdrew before it was listed.