Goldman Sachs CEO David Solomon says the boom in listings of blank-check companies on Wall Street is unsustainable, casting doubt on a financing tool used to raise nearly $79 bilion from investors last year, the Financial Times reports. Speaking to analysts as Goldman announced a doubling of its fourth-quarter profits, Solomon said he did not expect SPACs to continue to list at their current pace and raised questions about whether issuance had gone too far.
“We do not strive to be number one in the SPAC league tables. While we’re very active, we’re very thoughtful about our sponsors and the business that we take on,” he said. Read more.
