SPACs Forced to Fund Deals with More Expensive Financing: Report

convertible bonds

Blank-check companies are turning to expensive sources of financing to push their deals over the line in a fresh sign of stress in what had been one of the hottest corners of Wall Street, The Financial Times reports. Several companies that recently announced plans to go public by merging with a SPAC have raised cash to fund the deals by issuing convertible bonds, a form of debt that can be swapped into stock. Read more.

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