Four SPAC reconciliations have been terminated since Friday’s close
Over 40 PSPC mergers have been reversed this year
UpdatedAugust 15, 2022, 15:25 UTC
A wave of terminated agreements is hitting the blank check industry in another signal that the sector s collapses.
At least four planned mergers between special purpose acquisition companies and target companies seeking to go public have been canceled since market close on Friday , bringing the tally for the year to 42. The wave of breakouts is a blow to the industry which many believe has gone bankrupt, leaving some investors sitting on paper losses.