Everyone and their grandma has a SPAC

[Axtremus]

https://www.nytimes.com/2021/03/19/technology/the-market-seems-crazy-start-ups-wrestle-with-flood-of-offers.html

Article about shell companies formed with the singular purpose of taking another business public without going through the traditional IPO route. Shysters abound, it seems.

[Loki]

Anyone other than rich investors that get burned?

[jon-nyc]

It’s a bubble. Give it 12 months.

[Axtremus]

Grab to unveil world's biggest SPAC merger, valued at nearly $40 billion: sources

https://www.reuters.com/article/us-grab-m-a-altimeter-growth/grab-to-unveil-worlds-biggest-spac-merger-valued-at-nearly-40-billion-sources-idUSKBN2C00H6

No profit, only expect to break even by end of 2021, but already valued at $40 Billion in this deal.

[Axtremus]

SEC cracking down on SPAC:

https://www.cnbc.com/2021/04/21/spac-transactions-come-to-a-halt-amid-sec-crackdown-cooling-retail-investor-interest.html

“The SEC issued accounting guidance that would classify SPAC warrants as liabilities instead of equity instruments.”

“SPAC mania has come to a screeching halt.”