SPAC sponsors were winners even on losers

wsj 5 min read . Updated: 16 Oct 2022, 08:00 PM IST Eliot Brown, The Wall Street Journal
Stock-market investors in SPACs that merged with private companies since 2015 lost an average 37% of their investment a year after the merger through the end of SeptemberPremium
Stock-market investors in SPACs that merged with private companies since 2015 lost an average 37% of their investment a year after the merger through the end of September

Money managers who oversaw blank-check companies kept making profits even in the face of significant losses to stock investors

Since AEye Inc. went public by merging with a special-purpose acquisition company in August 2021, shareholders have had a rough go. The laser-technology company’s stock is down over 90% in the midst of missed revenue projections and the broader rout in growth stocks.

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