The wave of cash raised by special-purpose acquisition companies is rolling into the junk debt market, aiding distressed companies and rewarding investors who own their bonds and loans. SPACs, also known as blank-check companies, have issued roughly $100 billion of stock this year, a record, to buy private companies and take them public. Some SPACs… Continue reading SPAC Surge Pumps Up Junk-Bond Market
Tag: blank checks
SPAC Listings Slow to A Crawl with Bankers Buried in Paperwork
Anxiety is growing that the wellspring of special-purpose acquisition companies, a 2020s echo of the dot-com mania of the 1990s, is bumping up against the limits of both Wall Street and Washington. The pipeline of SPACs rushing to market is getting so clogged that bankers, lawyers and auditors are turning away business as they struggle… Continue reading SPAC Listings Slow to A Crawl with Bankers Buried in Paperwork
Billionaire and Celebrity Endorsements Lure Retail Investors to the SPAC Craze
Kunkle, of Philadelphia, runs a website for options traders. He’s used to spending his days talking about trades with people who see themselves as being on the vanguard of investing trends. So he was struck last month when he got a text about a special-purpose acquisition company — or SPAC — from his mother, who… Continue reading Billionaire and Celebrity Endorsements Lure Retail Investors to the SPAC Craze