Is the SPAC craze finally cooling off? ...Middle East

Quartz - Economy
Is the SPAC craze finally cooling off?
source : Quartz ( Middle East ) () 13
SPACs have so dominated Wall Street thinking this year that they are now the stuff of memes and ironic t-shirts.Thanks to their burst in popularity with celebrity and retail investors alike, more than half of companies that went private last year happened through a SPAC. But the promise of these unconventional investment vehicles—of bigger, more efficient returns on a shorter timeline than traditional IPOs—may be starting to fall short.Also termed blank-check companies, SPACs are shell companies that take private firms public by raising money on an exchange and then merging with or acquiring them to take their place on the exchange. It’s a back door for private firms to go public without bot

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