By Tom Zanki (May 11, 2022, 7:51 p.m. EDT) – The apparent withdrawal of investment banks from transactions involving special purpose acquisition companies adds jitters to a once-booming market that now faces a twin headwinds of weakening investor appetite and the prospect of stricter regulation.
Goldman Sachs Group Inc. said on Monday it was reducing its involvement in SPACs, citing expected regulatory changes, a move that has raised questions about whether more investment banks are stepping back from this. market.
Reports followed that Citigroup Inc. and Bank of America Corp. reduce, to varying degrees, their exposure to SPACs, which are vehicles that take private companies public through a hybrid process that…
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