Circle and Footprint’s aborted debuts are the final nail in the SPAC coffin

It would be nice to say that we’ll miss SPACs. But as blank-check companies fade from our view, we have to say we really won’t.
Many companies that went public via a SPAC, or special purpose acquisition company, have seen their valuations implode post-combination. The resulting public-market mess meant that regular investors, not merely the more sophisticated professional investing cohort, took a bath.
Even more, it appears that the best startups out there that may be eventual candidates for a traditional public offering did not pursue the SPAC route while it was open — we can infer this from

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