The SPAC Report - December 2007
Big Names, Bigger DealsIndustry Awaits Post-Merger Returns of Larger SPACs
Two years ago, a $100 million SPAC was a headline grabber. Not any more. Full Story
Chinese SPACs Use Innovation to Get Around Circular 106When it comes to SPACs, it seems that it's a lot easier to raise money than to spend it. Of the 200-plus such vehicles in existence, only about 40 have actually completed acquisitions. It is estimated that more than $12 billion is stagnating in escrow.
The situation is as bad or worse when China is added to the mix. Slightly more than 20 SPACs have been set up to acquire companies in that country. Of those, only seven have announced agreements to undertake business combinations and only four have actually completed deals.
Good Harbor Tests Limits of SPAC SurvivalMany in the SPAC universe are paying close attention to Good Harbor Partners. Unable to successfully close a deal, the SPAC is attempting to restructure and retain its listing after returning its escrowed funds to eligible shareholders. Full Story
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