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Browse: Home / 2022 / October / 21 / SPAC liquidations top $12 billion this year as sponsors grapple with tough market, new buyback tax

SPAC liquidations top $12 billion this year as sponsors grapple with tough market, new buyback tax

By Securities Docket on October 21, 2022, 8:30 am

A new buyback tax has motivated more and more SPAC sponsors to close up shop before the year-end, adding another headwind to the blank-check space already roiled by a tough market environment.

A total of 27 SPAC deals, worth $12.8 billion, have been liquidated this year, according to data from SPAC Research. Under the new provision in the Inflation Reduction Act, SPAC sponsors could face a 1% exercise tax if they return cash to investors starting in 2023.

Source: SPAC liquidations top $12 billion this year as sponsors grapple with tough market, new buyback tax

Posted in Industry, SEC, Top | Tagged SPACs

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