Top SPAC Sponsors Pulling IPOs at a Record Clip

SPAC

Some of the blank-check world’s shrewdest sponsors are pulling new offerings amid miserable returns for the sector and mounting signs of investor exhaustion, Bloomberg reports.

Dealmakers aborted at least 14 planned listings this month alone for SPACs that were looking to raise a combined $4 billion, according to data compiled by Bloomberg. Both figures are records for the once red-hot asset class. Read more.

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What the SEC Is Not Saying About SPACs: Report

The SEC is making decisions and issuing guidance about SPACs that may be based on misconceptions, Bloomberg Law reports, citing Daniele D’Alvia, CEO of SPACs Consultancy in London, and Milos Vulanovic, associate professor at EDHEC Business School in France. They question why the SEC is not issuing new improvements for traditional IPOs.