Welcome to the big SPAC slowdown
CNN
The SPAC party on Wall Street is flaming out about as fast as it began.
Increased scrutiny on the accounting methods used by special purpose acquisition companies, along with a series of PR headaches involving high-profile deals, threaten to stop the so-called blank check fad in its tracks. Big name firms such as Richard Branson's Virgin Galactic (SPCE), sports betting giant DraftKings and sexual wellness company Hims & Hers Health have all gone public through mergers with SPACs in recent years.More Related News