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Home / Business / Is there no bottom to the SPAC mess?
Posted on August 29, 2022 by Stylianos Hatzakis

Is there no bottom to the SPAC mess?

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For a brief moment earlier in the ongoing pandemic, it appeared that there was a solution for the backlog of richly priced startups that needed to provide their backers with liquidity: SPACs.
SPACs, or special purpose acquisition companies, are paper companies taken public with capital attached that then combine with a private entity, effectively bootstrapping startups onto the public markets.
That SPACs have a colorful history is to understate the case. But in 2020 to 2021, with startup capital flowing and high-profile backers aboard, some hoped that blank-check companies would rescue unicorns from private-market illiquidity. It was not to be. Some startups did go public via a SPAC, yes, but few brand-name unicorns, and in many cases, the blank-check debuts resulted in value incineration. Or worse.

The Exchange explores startups, markets and money.
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Category: Business
Tags: Business News, Business Updates, EC Newsletter, EC venture capital, SPAC, SPACs, startups, The Exchange, unicorn liquidity, venture

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