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The SPAC King Goes Silent With His Empire Shriveling

  • Two Palihapitiya SPACs are struggling to complete deals
  • SPAC market could shrink further if SEC moves aggresively
Bloomberg business news
In Defense of SPACs: Chamath Palihapitiya Makes a Case

The news came with little fanfare. It was late on a sleepy summer afternoon last week, and few on Wall Street even seemed to notice the pair of filings when they hit the SEC website. 

In terse, boilerplate language, the documents stated that two SPACs launched by Chamath Palihapitiya needed to push back the deadlines they had set to make acquisitions.