The insatiable appetite for U.S. SPAC IPOs may finally have reached its limit. It is not that investors have suddenly turned sour on blank-check companies. Rather, broader economic concerns, combined with the investment and insurance industries’ own limits on SPAC exposure, are producing a market pause and a trend toward increasingly discerning investing.
Initial public offerings for special purpose acquisition companies (SPAC IPOs) have enjoyed a remarkable run in 2020. Through Nov. 6, 170 SPAC IPOs have priced on U.S. exchanges, raising an incredible $62.8 billion. October has been a rough month for SPAC performance — but not in terms ...
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