The use of SPACs for taking tech companies and other businesses public is slowing amid volatile stock market conditions and market saturation, among other reasons, Investor’s Business Daily reports.
Currently, there are more than 600 SPACs hunting for acquisitions. The most common targets are tech companies, which can include applications in telecom or media.
However, since January, almost 30 SPACs have written to the SEC to cancel planned initial public offerings. That’s more than all SPAC cancellations in the second half of last year. Read more.
