SPACs are struggling to collect previously committed cash in the latest sign of discontent in this once-booming corner of equity capital markets, Bloomberg reports.
At least three SPACs closed their respective deals this month without all of the money private investors had pledged to contribute. While fickle capital isn’t ideal, the moves didn’t stop the strong market rallies of their targets: electric-vehicle battery metals startup TMC the metals co., space infrastructure hopeful Redwire Corp. and renewable natural gas developer Archaea Energy. Read more.
