The IPO market is beginning to thaw after a cold spell, and that has brought some special-purpose acquisition companies out of the woodwork. Although SPACs raised just $13 billion last year, last week produced a deal that looks like it could have happened during the heyday, Reuters reports. From U.S. presidential hopefuls’ forays to a continued SPAC king’s virality, SPACs’ reach is a reminder that they are hard to kill.
Presidential hopefuls Donald Trump and Vivek Ramaswamy have both danced with the SPAC movement. Serial blank-check lister Chamath Palihapitiya drew ire last week for his flippant reply on social media to a user accusing him of inflicting massive losses on shareholders while enriching himself. He finally admitted that, “some will work, some won’t.” Read more.
