The great SPAC crash is closing out the year in dramatic fashion as more shareholders prepare to cash out of the speculative-investing industry for good.
At least 80 special-purpose acquisition companies, which have raised $24 billion in total, face a wall of investor meetings that will give clients the chance to exit ahead of a new US tax that could hurt their returns. At least 32 SPACs holding roughly $18 billion are looking to close up shop and return capital over the coming 2 1/2 weeks, data compiled by Bloomberg show.
