Wall Street's blank-check boom has gone bust
CNN
The once hot blank-check merger trend is fading fast.
The stock market has been cratering so far this year — leaving special purpose acquisition companies, which buy private firms in order to take them public without the need for a traditional initial public offering, with difficulty finding targets.
SPACs, also known as blank check companies, are facing the same concerns about inflation and a looming recession on the horizon that are plaguing the rest of Wall Street.
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