SPAC redemption rates have been around 50 percent this year, up from 20 percent last year, according to Dealogic, reports The New York Times’ Deal Book. Companies that relied on this cash have responded to redemptions by adding debt financing to deals (BuzzFeed has a $150 million convertible note to fall back on following merger approval) and by rewriting the terms of mergers. Read more.
A Tale of Redemptions
