Media SPACs to Watch in 2021: Report

VinFast and Black Spade Acquisition completed their business combination last August. From announcement to closing, the deal took barely three months. This, despite the Vietnam EV maker posting lower than expected revenues for the first quarter — and after VinFast voluntarily recalled all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. authorities.

Backers of the blank-check merger that took UpHealth public lost their bid Wednesday to end litigation in Delaware over claims they duped investors into approving the transaction.

As retail investors pump less money into blank-check companies, returns on those stocks are badly underperforming versus the S&P 500, Reuters reports.

Investors who bought into a SPAC that took a healthcare-services company public last year in an $11 billion deal have suffered steep losses, reports Private Equity News. But promoters of the SPAC still stand to make millions.