Happy Fourth of July
by Kristi Marvin on 2018-07-03 at 1:58pm

“I have never found any blank-check investment vehicle attractive. No matter what the reputation or what the sponsor might be. . . . They are the ultimate in terms of lack of transparency.”

 — Arthur Levitt, former SEC Chairman

That’s a great quote…and it’s especially ironic given that Arthur Leavitt is currently Senior Advisor to the Carlyle Group, which is the Sponsor of Regalwood Global Energy.  Oops.

I cannot tell you how many times I’ve seen or heard negative quotes like that about SPACs.  Mostly, they are from people who aren’t that well informed about the product. Or, as is the case with Arthur Leavitt, he’s referring to a time when Blank Check Companies actually were a terrible product. (To be fair, that quote from Arthur is very old.)

However, SPACs have since evolved.  Bigger, better, more badass now.

So for fun, I found some old articles from back in the day that shows how the product (and the reporting) have changed over the years.  Here’s hoping that one day in the near future, financial reporters will stop referencing SPACs from “the bad old days”.  (Seriously, it’s a different product now. Please find a new angle.)

Note: It’s July 4th tomorrow and unless something crazy gets filed or there’s a major news announcement Thursday or Friday, we won’t be back until Monday. 

Have a great Fourth of July, everyone!

 

SPAC Articles Through the Years 

2005: Crave Huge Risk? This Investment May Be for You

2007:  Wall Street’s New Status Symbol: The SPAC

2008: $300 Million to Burn, With a Catch

2016:  More Wall Street banks, investors help write blank checks

2018: Why Are Top CEOs Flocking To SPACs (Blank Check Companies)?

 

Happy Fourth of July
Recent Posts
by Nicholas Alan Clayton on 2025-07-01 at 11:33am

Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...

by Henrique Santa Rosa, CFA on 2025-07-01 at 11:09am

In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...

by Kristi Marvin on 2025-07-01 at 8:42am

An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...

by Nicholas Alan Clayton on 2025-07-01 at 8:25am

At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...

by Nicholas Alan Clayton on 2025-06-30 at 9:04pm

NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved