dMY Technology Group, Inc. VI (NYSE: DMYS) (“dMY VI” or the “Company”), a special purpose acquisition company, announced yesterday, April 5, 2023, that the Company intends to dissolve and liquidate in accordance with the provisions of its Amended and Restated Certificate of Incorporation, dated as of October 5, 2021, and the Investment Management Trust Agreement, between dMY VI and Continental Stock Transfer & Trust Company (“CST” or the “Trustee”), dated as of October 5, 2021.
SPAC transactions come to a halt amid SEC crackdown, cooling retail investor interest
SPAC mania has come to a screeching halt. Just last month, special purpose acquisition companies celebrated a head-turning milestone by breaking their 2020 issuance record in just three-month’s time.
Top Performing SPACs of 2020
SPACs also known as blank check vehicles, have raised a record $82.1 billion in 2020 as of Dec. 24 — a sixfold increase from last year’s record high, according to data from Dealogic. Throughout the year, these companies have been busy in the cannabis, green technology, and sports-betting arenas, scooping up corporations like DraftKings and Nikola.
Why SPACs Have Become the ‘Revenge of the Retail Investor’
DMY Technology Group Chairman Harry You says special purpose acquisition companies (SPACs) are “wonderful for the investors” due to the extended amount of time to evaluate the investment. He speaks with Bloomberg’s Ed Hammond on “Bloomberg Markets: The Close.”