Going public through a special purpose acquisition company is officially mainstream. Special purpose acquisition companies, once looked down upon by Wall Street-types as a less respectable way to go public, have been forming and going public at an unprecedented pace this year.
A spree of space startups — Rocket Lab, Spire Global, BlackSky, Momentus, Astra, and AST SpaceMobile — have recently announced plans to go public through Special Purpose Acquisition Companies (SPACs), a method of financing that has become very popular in recent months.
It was another busy week for the SPAC market with numerous deal announcements and rumored deals. The market brought down the valuation of many SPACs late in the week.