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Soaring Spac redemptions signal their fall from favour

The average redemption rate during the third quarter was 52.4 per cent, according to data provider Dealogic, significantly up from the first three months of the year

©The Financial Times Limited 2020 Sep 27, 2021 / 01:14 PM IST
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Soaring Spac redemptions signal their fall from favour

Ortenca Aliaj and James Fontanella-Khan in New York and Nicholas Megaw in London Investors are pulling cash out of special purpose acquisition companies at increasingly higher rates, with a number of vehicles having their trust accounts almost wiped out as more than 90 per cent of their shareholders redeemed investments. The average redemption rate during the third quarter was 52.4 per cent, according to data provider Dealogic. That marks a significant increase from the first three months of the year when...

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