SPAC Mergers Are Falling Apart

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.

Deals between Carlyle-backed Syniverse Technologies LLC and M3-Brigade Acquisition II Corp. and between Acorns Grow Inc. and Pioneer Merger Corp. were among those canceled so far this year. That may signal that technology-stock volatility and investors’ desire to return their shares for cash are hitting high-profile mergers.

We are primarily funded by readers. Please subscribe and donate to support us!

On Monday, Astrea Acquisition Corp.’s deal to take HotelPlanner and Reservations.com public was scrapped without much detail. The pair agreed to merge in August.

www.yahoo.com/now/spac-mergers-falling-apart-rapid-174341635.html

Views:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.