2023-04-16 14:09:22
The SPACs are doing “Pschitt”. These empty shells listed on the stock exchange, which make it easier and faster to obtain a listing for companies in private hands, were all the rage on Wall Street during the pandemic. More the speculative soufflé has fallen: in the United States, many SPACs are reaching the end of the two-year deadline for acquiring a company. If they fail to achieve a business combination (an acquisition, in SPAC jargon), their promoters will have to return the investors’ money or try to hold out until the arrival of new shareholders, once a target has been identified. As for companies that have been acquired by SPACs, many are at risk of running out of cash, and a wave of bankruptcies has already begun. In Switzerland, the only instrument of this type is still looking to complete an acquisition.
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#SPACs #facing #moment #truth