An increasing number of acquisitions by blank check companies risk being derailed as retail investors fail to show up in sufficient numbers for critical shareholder votes on the deals, The Financial Times reports, citing industry executives. The difficulties represent an unexpected consequence of the Main Street popularity of Wall Street’s hottest asset class, and are forcing backers of special purpose acquisition companies to find new ways of turning out shareholder voters. Read more.
Related Posts
U.K.’s Financial Conduct Authority to Consult on SPAC Rules: Report
Proposals will include a minimum market capitalisation and a redemption option for investors.
Falcon Capital in Talks to Acquire Sharecare: Report
The deal with Falcon would value the combined entity at close to $4 billion.
Crypto SPACs Brace for Cruel Summer With Lower Valuations, SEC Scrutiny
If crypto companies involved in existing SPAC deals want to proceed, they’re going to need to reprice them to reflect current market comps, an M&A expert says.
Former Commerce Secretary to Trump Plots £700M Merger with UK’s Atom Bank
A SPAC set up by Wilbur Ross, who was Trump's commerce secretary between 2017 and 2021, is in talks about a merger with Durham-based Atom Bank.