When is a blank check not a blank check? When you have to give it back if no one signs it, the Financial News reports.
This is precisely the dilemma that many SPACs currently face. The reasons for the boom in the cash shells are clear: private equity companies are sitting on record cash piles that have to find somewhere to go eventually; the pandemic placed an acute need for capital on some businesses; and more investors look to cash in turbocharged sectors like healthcare and biotechnology. Read more.
