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A reckoning for Spacs: Will regulators deflate the boom?

The SEC is concerned about the market for ‘blank-cheque’ companies, including optimistic projections and celebrity endorsements

©The Financial Times Limited 2020 May 4, 2021 / 11:33 AM IST
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A reckoning for Spacs: Will regulators deflate the boom?

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Miles Kruppa in San Francisco and Ortenca Aliaj in New York At the beginning of this year, the space transportation start-up Momentus thought it would be well on its way towards its stated mission of “revolutionising space infrastructure and the space economy”. Instead, regulators intervened. Three months after Momentus announced a $1.2bn merger with a special purpose acquisition company, Stable Road Acquisition Corp, the Securities and Exchange Commission told the companies they were under investigation for statements made about the transaction,...

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