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This book examines the factors behind the liquidation of Special Purpose Acquisition Companies (SPACs) during the 2020-2021 boom. While SPACs briefly dominated U.S. IPO markets, many failed to complete mergers and were liquidated. Using logistic regression on a dataset of SPACs from this period, the study identifies key drivers of liquidation, including oversupply, poor target quality, and sponsor-investor misalignment. The findings provide insights into the structural weaknesses of the SPAC model and inform investors, sponsors, and regulators about associated risks.

Produktbeschreibung
This book examines the factors behind the liquidation of Special Purpose Acquisition Companies (SPACs) during the 2020-2021 boom. While SPACs briefly dominated U.S. IPO markets, many failed to complete mergers and were liquidated. Using logistic regression on a dataset of SPACs from this period, the study identifies key drivers of liquidation, including oversupply, poor target quality, and sponsor-investor misalignment. The findings provide insights into the structural weaknesses of the SPAC model and inform investors, sponsors, and regulators about associated risks.
Autorenporträt
Mikhail Kazakov was born in 2000. He holds a Master's degree in Banking and Finance from the University of Innsbruck. He has experience working in financial planning and analysis departments of leading companies. His interests include financial markets and corporate valuation.