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Why investors want out of Spacs
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Wall Street’s favourite pandemic bet is taking on water.
Spacs, or special-purpose acquisition companies, burst onto the scene in 2020 as the hip way to take Silicon Valley’s hottest startups public. Unlike traditional initial public offerings, Spacs were seen as modern and accessible, allowing any investor to put money into the companies of the future at the same time as professional money managers.
Spacs...
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