ADER News

Blank-check mergers have faced a myriad of challenges lately, including poor returns, high redemptions, and rising terminations. In this tough environment, 2022 SPAC mergers have taken longer to complete than prior years, averaging about 7 months from deal announcement to completion. That is 34% longer than the class of 2021 (5.2 months) and 55% longer than 2020 de-SPACs (4.5 months)...read more

This article was originally published one week earlier on IPO Pro. For enhanced coverage of the SPAC market, sign up for a free trial of IPO Pro. ...read more

Amid a crumbling SPAC market, nearly 600 blank check companies are still looking for acquisition targets, with deadlines rapidly approaching. SPAC sponsors are highly motivated to find targets, and as competition heats up in domestic markets, they have increasingly turned abroad. As some SPACs have discovered, due diligence can be harder when conducting transactions overseas. ...read more

26 Capital Acquisition, a blank check company formed by SpringOwl Asset Management targeting leisure, e-commerce, and consumer industries, raised $240 million by offering 24 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. The SPAC originally filed to raise $200 million. ...read more