Bitcoin, SPACs Make Market Feel ‘Frothy,’ Fed’s Powell Says

Vision Deal was aiming to raise US$130 million and said it plans to buy and merge with companies in smart-car technologies and e-commerce.

Taking a unicorn public almost always involved a traditional IPO or direct listing. But in recent quarters, a once-obscure option — a SPAC merger — has become an increasingly mainstream alternative, Crunchbase reports

The direct listing could raise as much as $1.3 billion, according to the filing.

That slowdown is largely due to the SEC's new position on SPAC accounting for warrants, the report says.