SEC trying to cool off the heat on SPACs ?
SPACs have raised about $100 billion so far this year, more than last year’s record of $83.4 billion, which itself was more than the amount raised in the nearly 30-year history of these blank-check companies.
The market notched another record on Tuesday, when Grab Holdings Inc., the Southeast Asia ride-hailing, food-delivery and digital-wallet group, said it would go public via a SPAC deal at a valuation of nearly $40 billion.
Critical comments from regulators appear to be scaring off some investors and new offerings. Until last month, roughly five new SPACs hit the stock market every business day in 2021. In the past 14 days, 12 new SPACs have started trading, SPAC Research data show.Read more