SPACs Facing Tripartite Challenge Of Excess, Mountains Of Paperwork And People With Other Things To Do With Their Stimulus Checks
No oneâs giving them a blank check anymore.
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Apr 1, 2021
Niklas Bildhauer (who also is User gerolsteiner91., CC BY-SA 2.0 , via Wikimedia Commons
No oneâs giving them a blank check anymore.
It has been two weeks since the Treasury Department started sending $240 billion worth of electronic payments to households…. Daily equity purchases by individual investors have remained stable at around $11 billion in recent weeks on a 10-day rolling basis, data from flow tracker VandaTrack shows. This is sharply different from what happened in April 2020, when checks immediately led to a jump in retail flows, or January of this year, when the impact was also clearly noticeable two weeks in…. Thanks to vaccinations and lockdowns easing, there are more ways to spend money recklessly away from home. Chase figures suggest that the largest incre
Opening Bell: 4.1.21
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SPAC-up; lamentable listings; Trump cards; and more!
Since the start of last week, four deals have been postponed…. The SEC’s processing of SPAC documentation is taking longer than it previously did. In some cases, agency staff have warned lawyers that it may take a full 30 days to review paperwork and to expect an additional two weeks to hear back on changes or amendments, according to people familiar with the situation.
One problem, another person said, is that more filings are arriving incomplete or containing errors. The agency is also contending with a barrage of phone calls from lawyers asking questions on their deals. To handle the deluge, the SEC expanded the unit that reviews SPAC filings, the people said.