SPACs Hit Hard on Merger Monday
Four deals were announced, but performance was underwhelming. Given the overall market's bad day, it's no surprise 75% of pre-deal SPACs declined and now average $9.87.
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Merger Monday returned with four new announced SPAC deals, but ultimately ended in a bit of a thud as all three SPAC stocks that announced this morning fell on the day. More broadly, 75% of Pre-Deal SPACs declined, closing at an
average of $9.87.
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LIV Capital (LIVK) -0.1% to $9.99
The deal selloffs came amid a broader market decline as well - so it's tough to attribute the lack of performance solely on deal conviction - yet most of newly announced deals have not been trading with much enthusiasm. However, as we've been saying, given there are