SPAC Mergers Are Falling Apart at a Rapid Pace

The pace of blank-check mergers failing to cross the finish line is accelerating as the industry grapples with waning investor interest.

At least six mergers with special-purpose acquisition companies have been canceled this year, on pace for a record number of nixed deals in a single quarter. At least 22 have been spiked since the middle of 2021, according to data compiled by Chicago-based SPAC Research, which tracks the industry. That compares with 26 tie-ups that were called off in the more than five years prior, the data show.