Morgan Creek Capital Management CEO and CIO Mark Yusko talks with Yahoo Finance about the SPAC market and Bitcoin’s future amid a changing market in this video interview. Watch the clip.
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The blank-check companies that captivated Wall Street for a year are playing it safe with their accounting as the market slowly recovers from a financial reporting crackdown that all but halted IPOs, Bloomberg reports.
SPAC Costs ‘Far Higher’ Than Previously Known, Study Finds
Although SPACs typically raise $10 per share from investors in their IPOs, by the time the median SPAC merges with a target, it holds just $6.67 in cash for each outstanding share, according to a study published by Stanford Law School.
2020 SPAC Boom Lifted Wall Street’s Biggest Banks: WSJ
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, the WSJ reports.
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