Nearly two years after SPACs became cool, a slew of these blank-check companies are approaching their deadlines to find targets and merge, Crunchbase reports.
In 2020, 248 SPACs went public, merging with companies like DraftKings and Virgin Galactic. While some were hits, many SPACs last year greatly underperformed.
But with a stacked pipeline of SPACs searching for targets and a challenging macroeconomic environment that has largely stalled new public stock offerings, SPACs will have to hustle harder than ever to get deals done. Otherwise, they have to look at their options. And there’s only a handful of choices to choose from. Read more.
