As free money, day traders and even sports bettors piled into special purpose acquisition companies during the pandemic, the structure intended to bring small companies public began to erode, creating carnage of some unready for Wall Street scrutiny.
“There are some great examples of winners being made. Unfortunately, there’s a number of examples of losers that haven’t gotten the job done,” Vince Cubbage, CEO of Tortoise Acquisition Corp., said in a keynote at FreightWaves’ Autonomous and...
https://www.freightwaves.com/news/deconstructing-the-spac-frenzy-what-went-right-and-wrong