As Deezer goes public via SPAC, is the blank-check boom really over?

From the next big thing to rueful error, the global SPAC market has had a big few years. So-called blank check companies, which take a skeleton corporation public with the aim of later merging with a private entity, can offer a quick path to the world’s stock markets. They can also, as we’ve relearned in recent quarters, incinerate shareholder wealth and potentially expose retail investors to outsized risk.
The 2020-2021 period of excess investor ebullience led to a surge in SPAC listings and, later, combinations. The result of the flurry of deals, centered in the United States, is largely a s

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