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spac boom: Sorry folks, the SPAC party's over - The Economic Times


Synopsis
Even with prices crashing, SPACs have so far been able to keep raising capital. However, their IPOs are no longer massively oversubscribed
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Rising bond yields have been unkind to growth stocks. Their impact on the special purpose acquisition companies has been downright cruel. The SPAC boom has become the Spacpocalypse. Nobody should be surprised.
SPACs are listed cash-shells that merge with private businesses in order to take them public. They’ve become the dominant way for a company to raise equity finance in the U.S. well over 200 new blank-check companies have raised a mind-boggling $70 billion so far this year, according to data compiled by Bloomberg. ....

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25Feb2021 Market Close: DOW Closes Down 560 Points Amid Surging Yields, Nasdaq Falls 3.5% In Worst Sell-off Since October, US Dollar Rises Fractionally To 90.26, Bitcoin Slips 2K To 48600

25Feb2021 Market Close: DOW Closes Down 560 Points Amid Surging Yields, Nasdaq Falls 3.5% In Worst Sell-off Since October, US Dollar Rises Fractionally To 90.26, Bitcoin Slips 2K To 48600
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