Investors who piled into SPACs at the height of the industry’s mania with dreams of triple-digit returns are facing a harsh reality: They may get bought out for little more than pennies on the dollar, Bloomberg reports
Insurer MetroMile is trading around $1 a share after accepting an all-stock buyout offer, and Talkspace, hovering near $1.70, has reportedly drawn interest for a merger of its own. That’s nowhere near the $10 mark where SPACs typically debut. Read more.
