Now SPACs Might Start Buying European-Listed Companies

Since the beginning of April, blank-check companies have only raised about $12 billion globally, according to Refinitiv. That has done little to dampen the enthusiasm of Asian sponsors, according to investors, deal makers and potential target companies.

PE firms are turning to SPACs to speedily cash out their investments. At the same time, buyout groups including Apollo Global Management, Ares Management and KKR have launched SPACs of their own.

To stave off disaster, newly listed startups are turning to an equity line of credit, or ELOC, which grants them the right — but not the obligation — to sell additional shares to a financial investor in return for hard cash.

The REIT now has a market cap of $958.7 million. Shares were trading early this afternoon at $22.60, down 0.46%.