Goldman Sees a Trade in Some Less Risky SPACs Amid Market Washout: Report

A broad selloff has wiped about $75 billion off the value of companies that came public through SPACs, according to a Dow Jones Market Data.

Players in the UK have looked on the monumental US boom and burgeoning EU landscape with envy. Pressure is mounting not only from those positioned to benefit from the listing transactions themselves, but regulators and authorities motivated to reduce the number of strong fintech brands seeking a more appealing listing environment outside of the UK.

Hippo was valued at $5 billion in March 2021 when it announced its combination with Reinvent Technology Partners Z, a SPAC backed by Reid Hoffman, cofounder of LinkedIn, and Mark Pincus, founder of Zynga.

A transaction is set to value the combined entity at $3 billion or more, Bloomberg reports.