Deals
SPAC Surge May Benefit Targets That Can Play a Waiting Game
- March 2023 will see 106 SPACs with $34 billion expire: data
- Banker: Companies shouldn’t answer SPAC calls until 2022
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As the number of blank-check companies racing to do a deal starts to stack up, advisers have some advice for companies that find themselves on the receiving end of the SPACs’ inquiries: Don’t pick up the phone.
Special purpose acquisition companies, which raise money to make an unspecified purchase, typically have to beat a two-year deal deadline to avoid returning billions of dollars to investors. After a recent surge in issuance, next year could see their potential targets courting an unprecedented wave of suitors.