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A growing list of SPACs plan to liquidate early to avoid a possible 1% excise tax in 2023

FVT.U

The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are acting as if it will, and......read more

Bill Foley's SPAC Austerlitz Acquisition II prices upsized $1.2 billion IPO

Austerlitz Acquisition II, the sixth blank check company formed by financial services veteran Bill Foley, raised $1.2 billion by offering 120 million units at $10. The company offered 20 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $125 million at the...read more

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