Nineteen blank-cheque company (SPAC) mergers have been canceled in 2022 compared to three in the identical interval in 2021, with many failing resulting from a mix of excessive investor redemptions and insufficient money from non-public traders through construction, often known as a Pipe, writes Financial Times.
According to Dealogic, SPAC investor redemptions reached 81% in March. The U.S. Securities and Exchange Commission (SEC) recommended substantial revisions for SPAC last week, adding to market uncertainty.
