The market for special-purpose acquisition companies, or SPACs, was all the rage over the last year, with exponential asset growth in just a few months plus the involvement of celebrities like R&B singer Ciara and former Yankees slugger Alex Rodriguez.
Then, last month, the Securities and Exchange Commission threw a sudden damper on it: new accounting guidance that forced many SPACs to issue financial restatements, which continue to appear just about daily.
Did the SPAC market just hit a wall? Or was it more like a speed bump?
On today’s episode of our ...
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