Are UK SPACs starting to unwind?

An announcement made on 23 April 2023 by Hambro Perks Acquisition Company Ltd (“Hambro Perks”) underlines the serious difficulties currently faced by the SPAC market and the SPAC market globally. The company confirmed that it is giving up its search for a business combination and will be redeeming its shares and winding itself up. Hambro Perks came to the market in November 2021 as the first UK SPAC to list under the new “SPAC-friendly” rules that the FCA introduced in August of that year. It extended its deadline for finding a target until the end of November 2023, by a shareholder vote passed in February of this year but has now had to admit defeat in finding an appropriate target and so will be returning funds to its shareholders prior to its liquidation.
Source: Are UK SPACs starting to unwind?