SPACs hit records in 2020 but the boom may be ending - the number of new SPAC offerings has declined and the targets for offering size have been cut. Can this new financing vehicle continue to grow?
A boom in special purpose acquisition companies appears to be waning, based on new registrations for initial public offerings of blank-check companies so far in November. The lull follows a three-month surge and arises after more than a dozen cut their initial public offering targets in October. Investor caution is warranted for these deals, which produce more losers than winners, according to IPO specialist Renaissance Capital.
https://www.wsj.com/articles/bunkers-take-fading-spac-surge-signals-investor-caution-11605096000
