SPAC sponsors holding roughly $18 billion in cash are staring down a wall of deadlines over the next 30 days, as teams decide whether it's worth fronting more cash or throwing in the towel, Bloomberg reports.
There are more than 70 blan-check companies in the next group of potential liquidations, data compiled by Bloomberg show. With investors increasingly asking for better terms to stick around, sponsors without automatic extensions will likely have to pay up to entice holders to stay — or close up shop and eat the roughly $8 million in fees they fronted. Read more.
Source: SPAC Sponsors with Billion Face Deadline on What to Do Next