As global market sentiment for spacs cooled considerably, several high-profile US-listed spacs chose to return the cash to their investors, instead of going ahead with acquisitions and risk getting their share prices hammered as what happened to certain big de-spacs.
All three SGX-listed Spacs, listed with fanfare in early 2022, are still looking for targets to acquire, although there’s no deal imminent even as the first deadline to de-spac draws nearer.
The three spacs, or special purpose acquisition corp, were listed near the tail-end of global market enthusiasm over such vehicles, which promise an alternative venue for some companies to list.
