Startup CEOs are turning a cold shoulder to SPACs, The Wall Street Journal reports.
Skeptical CEOs say they are turning down offers from SPACs, deleting their solicitous emails and tapping the brakes on merger deals amid nosediving shares and disappointed investors.
“The reluctance is palpable,” said Adam J. Epstein, who advises startup CEOs and their boards. “It’s gone from being a bona fide alternative path to an IPO to ‘We don’t really want to be a punchline.’” Read more.
