During the Covid19 years, investors flocked to spacs. These reverse merger vehicles – better known as SPACs – have fallen out of flavor amid rising interest rates and slumping stock valuations.
“It will come back, because it serves a need,” says Cohen, who helped take seven companies public through SPACs between 2015 and 2021, making her one of the industry's more prolific sponsors. These deals helped Cohen, age 81, build her estimated $245 million fortune, which puts her at No. 98 on Forbes' just-published annual list of America's Richest Self-Made Women. Read more.