SPACs had a bad start to 2022 with no new deals announced, 4 more (unwanted?) SPACs hitting the market, and deSPACs getting pounded while the market shifted from growth.
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Standing out has become much more challenging as the field becomes crowded.
Some SPACs are resorting to new methods to catch the eye of investors, according to a report in DealBook on Wednesday.
SPACs are booming. Otherwise known as blank-check companies, SPACs have exploded since the start of 2020, with over 130 SPAC listings already in 2021.
SPACs list with the aim of identifying a merger partner to take public. This method is typically done in lieu of an IPO or a direct listing, and has garnered support from Wall Street heavyweights as well as pop icons and professional athletes.