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SPAC Wipeout Spurs Top Sponsors to Pull IPOs at Record Clip

  • About $4 billion of new blank checks were spiked this month
  • Riverside pulls three; Eli Manning’s offering gets sacked
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What the Future Holds for SPAC Deals in 2022
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Some of the blank-check world’s shrewdest sponsors are pulling new offerings amid miserable returns for the sector and mounting signs of investor exhaustion.

Dealmakers aborted at least 14 planned listings this month alone for so-called special-purpose acquisition companies that were looking to raise a combined $4 billion, according to data compiled by Bloomberg. Both figures are records for the once red-hot asset class.