How do SPACquisitions Perform?: Empirical Evidence on Post-Merger Performance in SPAC 3.0
Special Purpose Acquisition Companies (“SPACs”) provide targets with an alternative route to the public markets and have grown significantly in popularity in recent years. The existing literature on SPAC performance, which predominantly examines the previous generation of SPACs (pre-2010), reveals that the market tends to react positively to acquisition announcement, while post-merger performance
