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Apr 05 2021, 10:48 PM
April 05 2021, 4:44 PM
April 05 2021, 10:48 PM
(Bloomberg) What would you do if someone offered to let you buy dollars for 99 cents and walk away with a billion-dollar profit?
(Bloomberg) What would you do if someone offered to let you buy dollars for 99 cents and walk away with a billion-dollar profit?
Thatâs the opportunity, at least in theory, presented by underwater SPACs. Some 300 special purpose acquisition companies debuted in the first quarter of this year, creating an oversupply with at least 302 that hadnât bought anything yet and were trading for less than the cash raised in their public offering. Theyâre also facing an eventual deadline to liquidate if they donât come up with a deal.