A Slow, Painful Week for Most SPAC Investors
A light week for SPAC M&A and the new issue market has hit saturation. Pre-Deal SPACs will soon feel the pressure to start finding targets.
Author:
Apr 23, 2021
While 3 deals ultimately announced this week (HZAC, FWAA, and DBDR) it was still a slow week compared to peak SPAC merger frenzy. This week s deals provided modest pops - despite what has (mostly) been a rollercoaster overall week for risk assets. On a happy note, SPACs finished Friday largely up, for the first time in what feels like years.
Overall, the week was one where the mood felt increasingly dark with the media only adding to it with little positive to say.