SPAC boom starting to wane

Special purpose acquisition companies were hot tickets earlier this year, a rare bright spot in the IPO market. But FINalternatives notes that the boom seems to be over--for now anyway. Many SPACs are having a lot of trouble finding suitable investments. The prospects that some will return funds is real. The result has been that many recently offered SPACs are languishing below their offer price. So it'll be a while before more SPACs come to market. It's unclear how all this will affect hedge funds that launched their own funds or funds to invest in SPACs. Many are hoping for some improvement in the deal-making environment. The best source of good investments may come from private equity firms.  

For more:
- here's the FINalternatives article

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