Anxiety is growing that the wellspring of SPACs, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington, Bloomberg reports.
The pipeline of SPACs rushing to market is getting so clogged that bankers, lawyers and auditors are turning away business as they struggle to keep pace, according to people familiar with the matter. As founders of blank-check companies wait in line, the deep-pocketed investors needed to take them public have grown squeamish. Read more.
