Dozens of De-SPACs Flag Severe Cash Problems as Economy Weakens

As the US economy slowly buckles under the strain of soaring interest rates, corporate bankruptcies will pile up. Few on Wall Street doubt this. The real question they have is which sorts of companies and industries will succumb first.

A good place to start looking: firms that went public via SPAC, that anything-goes world of speculative investing that’s come to represent the unbridled financial mania the pandemic wrought and the bust that followed. Bedrock AI, an investment research company that scours regulatory documents, pored through filings issued by hundreds of de-SPACs -- which are SPACs, or blank-check firms, that found ...