Spotlight on SPACs: The Dog Days of Summer
Mintz Securities & Capital Markets Co-Chair William Hicks was quoted in the Dealreporter discussing the current state of the SPAC market. Bill commented that despite a few new issuances, the SPAC market is unlikely to reclaim the glory of 18 months ago. He said, "I don’t think it’s a sign of a revived SPAC market." Bill also pointed out that given the intense regulatory scrutiny of the asset class, and an average redemption rate above 81% this year, investors and underwriters are reluctant to back blank check companies like they once did.