Big banks earned billions of dollars in feessetting up SPACs in 2020, highlighting how booming capital markets are helping Wall Street weather the coronavirus, the Wall Street Journal reports.
U.S.-listed SPACs raised $82 billion in 2020, a more-than-sixfold increase from the year before and a figure greater than all of the money previously raised, according to Dealogic. They even attracted a star-studded group of backers, ranging from basketball legend Shaquille O’Neal to former House of Representatives Speaker Paul Ryan. Read more.
