It had been over a year since the market went a month without a SPAC debut. That ended in September.
The once-hot market for blank checks where dozens were pricing each month just two years ago has gone cold as investors sour on the back-door listing vehicle and the appetite for riskier assets disappears over economic fears of higher-for-longer interest rates. The last special-purpose acquisition company to debut on a US exchange was 99 Acquisition Group Inc., which raised $75 million on Aug. 17, making it the longest stretch without a new listing since at least July 2022, data analyzed by Bloomberg show.
Source: SPAC Drought Hits Milestone With Zero US Offerings Since August
