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by Tyler Durden SPACs have officially fallen out of favor.  The SPAC bubble burst started with fallen angel Nikola Motors and has since continued, with short sellers and market skeptics unveiling the less than savory elements to numerous names brought public through the merger-style transaction that allows companies to go public quicker, and with less red tape, than the traditional IPO process. Chamath Palihapitiya, once heralded as the king of SPACs is now more likely to be seen as the face of a SPAC bubble that looks as though it is in the process of popping.  As a result of the bubble bursting, banks are starting to pass on funding SPAC transactions. One recent example was Simplifi Holdings, which, when it attempted to go public last month valued at nearly $2 billion, found that bankers, mutual funds and hedge funds were balking at financing the transaction, according to Reuters.

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