While the SPAC craze dominated last year and investors rode that momentum into 2021, the crowded market has cooled slightly as many of the vehicles continue to search for their perfect mate, Crunchbase reports.
Those changing market dynamics have created an adjustment in the terms of some SPACs — in an attempt to make the vehicle more attractive to investors — and shifted where some are looking for that much-needed target.
While there were just under 300 SPACs formed in the first quarter of 2021, the second quarter saw a slowdown, with fewer than 50 announced and just 16 in July, according to an RBC Capital report. Read more.
