A flurry of blank check mergers were called off over the past 24 hours as target firms and SPAC sponsors deal with market turmoil that has shaken the industry and capital markets.
At least four special-purpose acquisition company tie-ups have been called off since the end of Thursday’s trading, bringing the year’s total to 30 breakups. The malaise is expected to keep Panera Brands, the owner of Panera Bread and Einstein Bros. Bagels, and online brokerage eToro private.
Source: Wave of SPAC Deals Canceled in Latest Blow to Stumbling Industry – Bloomberg
