SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead_老虎社区_美港股上老虎

SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead

cnbc2021-03-19

KEY POINTS SPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research. The red-hot industry is facing a...

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768

Fatboygang
·2021-03-22
Spacs ♥️
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kino318
·2021-03-22
Start to worry abt the bubble.
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Annalz
·2021-03-22
😢
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1
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ADL
·2021-03-22
well as long as retailers are committed to SPACs, they will constantly roll them out!
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1
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TerenceD
·2021-03-22
That’s 👍🏻
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1
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CrystalPaw
·2021-03-22
Làtest
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KSHoSG
·2021-03-22
[呆住]
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3
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AhBun
·2021-03-22
👍🏻
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6
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- EV8:
  👍👍
  2021-03-22
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- MrSoh:
  Up
  2021-03-22
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junguangg
·2021-03-22
[流泪]
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2
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YiiYii
·2021-03-22
Please like and comment.
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6
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- naan:
  super
  also like n comments in return
  2021-03-22
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- 8d169ad:
  okay
  2021-03-22
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- naan回复8d169ad:
  thanks
  2021-03-22
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elite
·2021-03-22
Please help to share
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4
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FatherChee
·2021-03-22
Waa
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5
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- MamaChee:
  Waaa cow
  2021-03-22
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- FatherChee:
  Cow was banga
  2021-03-23
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- FatherChee:
  Cow abunga
  2021-03-24
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Albaakbert
·2021-03-22
I want to say spac space is nice
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46466554
·2021-03-22
Like me pls
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5
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- Green_cow:
  please like and comment
  2021-03-22
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lisle
·2021-03-22
Comment and like
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- JFK:
  Ok.
  2021-03-22
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- Green_cow:
  please like and comment
  2021-03-22
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- YiiYii:
  Done. Pls return.
  2021-03-22
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ohty0308
·2021-03-22
Been hearing about SPACs all day long indeed...
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3
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- ohty0308:
  Pls lIke and comment thanks!! [微笑]
  2021-03-22
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- jonbeloved:
  Done
  2021-03-22
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JPLee
·2021-03-22
Up up and like pls
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5
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wesskiller88
·2021-03-22
Help me like and comment. Thanks
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5
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- JPLee:
  commented
  2021-03-22
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- JFK:
  Good.
  2021-03-22
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- YiiYii:
  Done. Pls return.
  2021-03-22
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kohaku84
·2021-03-22
Like my comments thankew
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6
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- wesskiller88:
  Ok
  2021-03-22
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- YiiYii:
  Done. Pls return.
  2021-03-22
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JWZ137
·2021-03-22
Good
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4
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","article_id":"1126157111","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","pubTimestamp":1616165568,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"SPACs在短短3个月内打破2020年的纪录，但这一炙手可热的行业面临着未来的挑战","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":359838550,"gmtCreate":1616379979470,"gmtModify":1631890712607,"author":{"id":"3567757837951476","authorId":"3567757837951476","name":"Fatboygang","avatar":"https://static.tigerbbs.com/b0250d7ae9b1af7b9c27f8e248f46e31","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Spacs ♥️","listText":"Spacs ♥️","text":"Spacs ♥️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359838550","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359893663,"gmtCreate":1616378938252,"gmtModify":1634526163464,"author":{"id":"3578134255896974","authorId":"3578134255896974","name":"kino318","avatar":"https://static.tigerbbs.com/e983f44b7853b7b8c10f1b3f6e19dc68","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Start to worry abt the bubble.","listText":"Start to worry abt the bubble.","text":"Start to worry abt the bubble.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359893663","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359156020,"gmtCreate":1616376308960,"gmtModify":1634526188232,"author":{"id":"3577089953267281","authorId":"3577089953267281","name":"Annalz","avatar":"https://static.tigerbbs.com/ffd285ab6189bb61da4b48c3e149eedc","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"😢","listText":"😢","text":"😢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359156020","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359185489,"gmtCreate":1616374220441,"gmtModify":1634526206560,"author":{"id":"3572161139823685","authorId":"3572161139823685","name":"ADL","avatar":"https://static.tigerbbs.com/46f309a3de1b3b77e46ca01bc05767be","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"well as long as retailers are committed to SPACs, they will constantly roll them out!","listText":"well as long as retailers are committed to SPACs, they will constantly roll them out!","text":"well as long as retailers are committed to SPACs, they will constantly roll them out!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359185489","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359183737,"gmtCreate":1616373923129,"gmtModify":1634526210420,"author":{"id":"3573966231987456","authorId":"3573966231987456","name":"TerenceD","avatar":"https://static.tigerbbs.com/046d570a2a5c6793332b041c7628d5c3","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"That’s 👍🏻&nbsp;","listText":"That’s 👍🏻&nbsp;","text":"That’s 👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359183737","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359119226,"gmtCreate":1616373245065,"gmtModify":1634526219766,"author":{"id":"3576284568906770","authorId":"3576284568906770","name":"CrystalPaw","avatar":"https://static.tigerbbs.com/2787986fd5aa1c5f9d54087c11dead30","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Làtest","listText":"Làtest","text":"Làtest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359119226","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359110670,"gmtCreate":1616373206190,"gmtModify":1634526220920,"author":{"id":"3575616552570301","authorId":"3575616552570301","name":"KSHoSG","avatar":"https://static.tigerbbs.com/f9e9c60ddd65dd7dca218423e8951ee3","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"[呆住]&nbsp;","listText":"[呆住]&nbsp;","text":"[呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359110670","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":359132714,"gmtCreate":1616373055438,"gmtModify":1634526224097,"author":{"id":"3573631206238142","authorId":"3573631206238142","name":"AhBun","avatar":"https://static.tigerbbs.com/3361dda37a9149e948a50ba4d5d71b28","vip":1,"crmLevel":7,"crmLevelSwitch":0},"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359132714","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848961,"gmtCreate":1616373496575,"gmtModify":1635751229520,"authorId":3576472032670521,"author":{"id":3576472032670521,"authorId":3576472032670521,"name":"EV8","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359132714,"type":1,"supId":0,"prevId":0,"content":"👍👍","text":"👍👍","html":"👍👍"},{"id":3849448,"gmtCreate":1616376779957,"gmtModify":1635751185723,"authorId":3574575782343795,"author":{"id":3574575782343795,"authorId":3574575782343795,"name":"MrSoh","avatar":"https://static.tigerbbs.com/c5bdec030dd49d0dabdf0b9138e4311a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359132714,"type":1,"supId":0,"prevId":0,"content":"Up","text":"Up","html":"Up"}],"langContent":"EN"},{"id":359136607,"gmtCreate":1616372981909,"gmtModify":1634526225631,"author":{"id":"3576578041812238","authorId":"3576578041812238","name":"junguangg","avatar":"https://static.tigerbbs.com/1e907234339f501e28540b880949a524","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"[流泪]&nbsp;","listText":"[流泪]&nbsp;","text":"[流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359136607","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":359139275,"gmtCreate":1616372584697,"gmtModify":1634526228804,"author":{"id":"3567052123559984","authorId":"3567052123559984","name":"YiiYii","avatar":"https://static.tigerbbs.com/bb10d436567743e0e60ba0933900bf20","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Please like and comment.&nbsp;","listText":"Please like and comment.&nbsp;","text":"Please like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/359139275","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848806,"gmtCreate":1616372839784,"gmtModify":1635751243911,"authorId":3574400316429410,"author":{"id":3574400316429410,"authorId":3574400316429410,"name":"naan","avatar":"https://static.tigerbbs.com/5846811c3194d2eaeac65a7165552bc1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359139275,"type":1,"supId":0,"prevId":0,"content":"super <br>\nalso like n comments in <u>return</u>","text":"super <br>\nalso like n comments in <u>return</u>","html":"super <br>\nalso like n comments in <u>return</u>"},{"id":3848886,"gmtCreate":1616373194691,"gmtModify":1635751236801,"authorId":3576056007940397,"author":{"id":3576056007940397,"authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359139275,"type":1,"supId":3848806,"prevId":0,"content":"okay","text":"okay","html":"okay"},{"id":3848919,"gmtCreate":1616373311653,"gmtModify":1635751233782,"authorId":3574400316429410,"author":{"id":3574400316429410,"authorId":3574400316429410,"name":"naan","avatar":"https://static.tigerbbs.com/5846811c3194d2eaeac65a7165552bc1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3576056007940397,"repliedAuthor":{"id":3576056007940397,"authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":359139275,"type":1,"supId":3848806,"prevId":3848886,"content":"<u>thanks</u>","text":"<u>thanks</u>","html":"<u>thanks</u>"},{"id":3848934,"gmtCreate":1616373367946,"gmtModify":1635751232314,"authorId":3574400316429410,"author":{"id":3574400316429410,"authorId":3574400316429410,"name":"naan","avatar":"https://static.tigerbbs.com/5846811c3194d2eaeac65a7165552bc1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3576056007940397,"repliedAuthor":{"id":3576056007940397,"authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":359139275,"type":1,"supId":3848806,"prevId":3848886,"content":"gv 8 likes  [微笑]","text":"gv 8 likes  [微笑]","html":"gv 8 likes  [微笑]"},{"id":3849089,"gmtCreate":1616374259509,"gmtModify":1635751216834,"authorId":3567052123559984,"author":{"id":3567052123559984,"authorId":3567052123559984,"name":"YiiYii","avatar":"https://static.tigerbbs.com/bb10d436567743e0e60ba0933900bf20","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359139275,"type":1,"supId":3848806,"prevId":0,"content":"Alright.","text":"Alright.","html":"Alright."}],"langContent":"EN"},{"id":359139969,"gmtCreate":1616372529351,"gmtModify":1634526229160,"author":{"id":"3555312962232191","authorId":"3555312962232191","name":"elite","avatar":"https://static.tigerbbs.com/2601d446a3f18f0e9bf7927e9dc30a0e","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please help to share&nbsp;","listText":"Please help to share&nbsp;","text":"Please help to share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359139969","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359130090,"gmtCreate":1616372391510,"gmtModify":1634526229998,"author":{"id":"3570098773995280","authorId":"3570098773995280","name":"FatherChee","avatar":"https://static.tigerbbs.com/97915ddc54693a0153473b0d141e31ba","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Waa","listText":"Waa","text":"Waa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/359130090","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3854645,"gmtCreate":1616421533823,"gmtModify":1635750869479,"authorId":3574311189258651,"author":{"id":3574311189258651,"authorId":3574311189258651,"name":"MamaChee","avatar":"https://static.tigerbbs.com/8746e5db49574f0951a9f0c69a2044ec","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359130090,"type":1,"supId":0,"prevId":0,"content":"Waaa cow","text":"Waaa cow","html":"Waaa cow"},{"id":3858212,"gmtCreate":1616459281511,"gmtModify":1635750681611,"authorId":3570098773995280,"author":{"id":3570098773995280,"authorId":3570098773995280,"name":"FatherChee","avatar":"https://static.tigerbbs.com/97915ddc54693a0153473b0d141e31ba","vip":1,"currentWearingBadge":{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.24%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359130090,"type":1,"supId":3854645,"prevId":0,"content":"Cow was <u>banga</u>","text":"Cow was <u>banga</u>","html":"Cow was <u>banga</u>"},{"id":3870964,"gmtCreate":1616585255821,"gmtModify":1635749902244,"authorId":3570098773995280,"author":{"id":3570098773995280,"authorId":3570098773995280,"name":"FatherChee","avatar":"https://static.tigerbbs.com/97915ddc54693a0153473b0d141e31ba","vip":1,"currentWearingBadge":{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.24%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359130090,"type":1,"supId":3854645,"prevId":0,"content":"Cow <u>abunga</u>","text":"Cow <u>abunga</u>","html":"Cow <u>abunga</u>"}],"langContent":"EN"},{"id":359197646,"gmtCreate":1616372364585,"gmtModify":1634526230459,"author":{"id":"3573197870935019","authorId":"3573197870935019","name":"Albaakbert","avatar":"https://static.tigerbbs.com/38fb1a202f211aaf65a6b491072b884f","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"I want to say spac space is nice","listText":"I want to say spac space is nice","text":"I want to say spac space is nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359197646","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359192839,"gmtCreate":1616372138621,"gmtModify":1634526232236,"author":{"id":"3574684026781296","authorId":"3574684026781296","name":"46466554","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like me pls","listText":"Like me pls","text":"Like me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/359192839","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848734,"gmtCreate":1616372250132,"gmtModify":1635751250244,"authorId":3575343781681994,"author":{"id":3575343781681994,"authorId":3575343781681994,"name":"Green_cow","avatar":"https://static.tigerbbs.com/603310c8ab4fc6c85e66f974bd131b56","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359192839,"type":1,"supId":0,"prevId":0,"content":"please like and comment","text":"please like and comment","html":"please like and comment"}],"langContent":"EN"},{"id":359198982,"gmtCreate":1616371923646,"gmtModify":1634526233885,"author":{"id":"3578105767036497","authorId":"3578105767036497","name":"lisle","avatar":"https://static.tigerbbs.com/7211dacaf21fe705e2c4ef9ce1120448","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/359198982","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848715,"gmtCreate":1616372165521,"gmtModify":1635751252177,"authorId":3567221235003553,"author":{"id":3567221235003553,"authorId":3567221235003553,"name":"JFK","avatar":"https://static.tigerbbs.com/d8cdaf8b81ae245f2f2ea5ff303a6722","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359198982,"type":1,"supId":0,"prevId":0,"content":"Ok.","text":"Ok.","html":"Ok."},{"id":3848735,"gmtCreate":1616372256609,"gmtModify":1635751250122,"authorId":3575343781681994,"author":{"id":3575343781681994,"authorId":3575343781681994,"name":"Green_cow","avatar":"https://static.tigerbbs.com/603310c8ab4fc6c85e66f974bd131b56","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359198982,"type":1,"supId":0,"prevId":0,"content":"please like and comment","text":"please like and comment","html":"please like and comment"},{"id":3848772,"gmtCreate":1616372628558,"gmtModify":1635751247316,"authorId":3567052123559984,"author":{"id":3567052123559984,"authorId":3567052123559984,"name":"YiiYii","avatar":"https://static.tigerbbs.com/bb10d436567743e0e60ba0933900bf20","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359198982,"type":1,"supId":0,"prevId":0,"content":"Done. Pls return.","text":"Done. Pls return.","html":"Done. Pls return."},{"id":3848896,"gmtCreate":1616373223588,"gmtModify":1635751235950,"authorId":3576056007940397,"author":{"id":3576056007940397,"authorId":3576056007940397,"name":"8d169ad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359198982,"type":1,"supId":0,"prevId":0,"content":"done. please like to","text":"done. please like to","html":"done. please like to"}],"langContent":"EN"},{"id":359190155,"gmtCreate":1616371542477,"gmtModify":1634526236260,"author":{"id":"3578220246250610","authorId":"3578220246250610","name":"ohty0308","avatar":"https://static.tigerbbs.com/1488b6459dba7c0c98675f806ac94140","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Been hearing about SPACs all day long indeed...","listText":"Been hearing about SPACs all day long indeed...","text":"Been hearing about SPACs all day long indeed...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359190155","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848645,"gmtCreate":1616371612806,"gmtModify":1635751258613,"authorId":3578220246250610,"author":{"id":3578220246250610,"authorId":3578220246250610,"name":"ohty0308","avatar":"https://static.tigerbbs.com/1488b6459dba7c0c98675f806ac94140","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359190155,"type":1,"supId":0,"prevId":0,"content":"Pls lIke and comment thanks!! [微笑]","text":"Pls lIke and comment thanks!! [微笑]","html":"Pls lIke and comment thanks!! [微笑]"},{"id":3848983,"gmtCreate":1616373558911,"gmtModify":1635751227501,"authorId":3560138341869725,"author":{"id":3560138341869725,"authorId":3560138341869725,"name":"jonbeloved","avatar":"https://static.tigerbbs.com/1312ffb19627a11a2ad03b49693f53dd","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359190155,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":359102961,"gmtCreate":1616371183953,"gmtModify":1634526238878,"author":{"id":"3575522563751889","authorId":"3575522563751889","name":"JPLee","avatar":"https://static.tigerbbs.com/95cdb1874f20ad06f1ef6e5b0f46e7e3","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Up up and like pls","listText":"Up up and like pls","text":"Up up and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359102961","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":359101253,"gmtCreate":1616370978872,"gmtModify":1634526240142,"author":{"id":"3573810325927445","authorId":"3573810325927445","name":"wesskiller88","avatar":"https://static.tigerbbs.com/81e8f42bacc792eef40d846b516e979d","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Help me like and comment. Thanks&nbsp;","listText":"Help me like and comment. Thanks&nbsp;","text":"Help me like and comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/359101253","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848579,"gmtCreate":1616371196230,"gmtModify":1635751262838,"authorId":3575522563751889,"author":{"id":3575522563751889,"authorId":3575522563751889,"name":"JPLee","avatar":"https://static.tigerbbs.com/95cdb1874f20ad06f1ef6e5b0f46e7e3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359101253,"type":1,"supId":0,"prevId":0,"content":"commented","text":"commented","html":"commented"},{"id":3848716,"gmtCreate":1616372175993,"gmtModify":1635751252056,"authorId":3567221235003553,"author":{"id":3567221235003553,"authorId":3567221235003553,"name":"JFK","avatar":"https://static.tigerbbs.com/d8cdaf8b81ae245f2f2ea5ff303a6722","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359101253,"type":1,"supId":0,"prevId":0,"content":"Good.","text":"Good.","html":"Good."},{"id":3848778,"gmtCreate":1616372665772,"gmtModify":1635751246586,"authorId":3567052123559984,"author":{"id":3567052123559984,"authorId":3567052123559984,"name":"YiiYii","avatar":"https://static.tigerbbs.com/bb10d436567743e0e60ba0933900bf20","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359101253,"type":1,"supId":0,"prevId":0,"content":"Done. Pls return.","text":"Done. Pls return.","html":"Done. Pls return."}],"langContent":"EN"},{"id":359109800,"gmtCreate":1616370831900,"gmtModify":1634526241652,"author":{"id":"3571784946922966","authorId":"3571784946922966","name":"kohaku84","avatar":"https://static.tigerbbs.com/ced1f1ad7dc4fefc13b10ec983b8fd7e","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like my comments thankew","listText":"Like my comments thankew","text":"Like my comments thankew","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359109800","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3848538,"gmtCreate":1616370990233,"gmtModify":1635751265629,"authorId":3573810325927445,"author":{"id":3573810325927445,"authorId":3573810325927445,"name":"wesskiller88","avatar":"https://static.tigerbbs.com/81e8f42bacc792eef40d846b516e979d","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359109800,"type":1,"supId":0,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"},{"id":3848781,"gmtCreate":1616372679175,"gmtModify":1635751246342,"authorId":3567052123559984,"author":{"id":3567052123559984,"authorId":3567052123559984,"name":"YiiYii","avatar":"https://static.tigerbbs.com/bb10d436567743e0e60ba0933900bf20","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":359109800,"type":1,"supId":0,"prevId":0,"content":"Done. Pls return.","text":"Done. Pls return.","html":"Done. Pls return."}],"langContent":"EN"},{"id":359100921,"gmtCreate":1616370654963,"gmtModify":1634526243080,"author":{"id":"3575067142498671","authorId":"3575067142498671","name":"JWZ137","avatar":"https://static.tigerbbs.com/842968796125e5a418b21a3b4ab603ef","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359100921","repostId":1126157111,"repostType":4,"repost":{"id":"1126157111","pubTimestamp":1616165568,"share":"https://www.laohu8.com/m/news/1126157111?lang=&edition=full","pubTime":"2021-03-19 22:52","market":"us","language":"en","title":"SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1126157111","media":"cnbc","summary":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total ","content":"<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSPACs break 2020 record in just 3 months, but the red-hot industry faces challenges ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/19/spacs-break-2020-record-in-just-3-months.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1126157111","content_text":"KEY POINTS\n\nSPACs in the U.S. have raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year, according to data from SPAC Research.\nThe red-hot industry is facing a multitude of challenges in keeping up with the meteoric rise.\nHigher interest rates make these growth companies — oftentimes pre-revenue and pre-cash flow — much less appealing.\nMany SPAC IPO stocks have proven to be vulnerable to overall market volatility and wiped out 2021 gains.\n\nIt took the SPAC market just three months to outdo its record-breaking 2020, but sustaining that level of jaw-dropping growth will be no easy task.\nThe funds raised via U.S. special purpose acquisition companies have totaled $87.9 billion so far in 2021, already exceeding the $83.4 billion issuance in all of last year, according to data from SPAC Research.\nSPACs raise capital in an initial public offering and use the cash to merge with a private company and take it public, usually within two years.\n“It seems that everybody is getting calls about these SPACs. The SPACs are knocking on their doors,” said Dana D’Auria, co-CIO at Envestnet PMC. “When there’s a market like that, of course you just have to be concerned with the long-run return potential.”\nThe red-hot industry is facing a multitude of challenges in keeping up with its meteoric rise.\nWith more than 400 deals currently on the hunt for targets, good quality companies can befew and far between.SPAC IPO stocks, many of which experienced heightened speculative trading activity, have proven to be vulnerable to overall market volatility. Meanwhile, higher interest rates are making these growth companies — which are often pre-revenue and pre-cash flow — much less appealing.\n“For companies relying on future earnings, if rates continue to rise, they are going to be more vulnerable than bigger, more mature tech names,” said Quincy Krosby, Prudential Financial’s chief market strategist.\n“They don’t have strong balance sheets and sometimes don’t even have a business,” she said. “The vulnerable parts of the market will be in jeopardy.”\nThe proprietary CNBC SPAC 50 index, which tracks the 50 largest U.S.-based pre-merger blank-check deals by market cap, dropped more than 7% in March. That decline wiped out the index’s 2021 gains.\nThe CNBC SPAC Post Deal Index, which is comprised of the largest SPACs that have come to market and announced a target, also turned negative on the year. The declines came as a spike in bond yields jolted the stock market, especially growth-oriented tech names.\n“Middle-market groups who used to not have the level of sophistication to even orchestrate an IPO want to talk about SPAC IPOs,” said Anthony DeCandido, partner at RSM LLP.\n“Because there are still so many distressed companies out there that face liquidity issues from Covid, there will still be this extended period of buying opportunity for those groups who have capital to put into the market,” he said.\nThe explosive popularity in the SPAC market has also attracted a slew of athletes and other famous figures to jump on the bandwagon, including NBA star Shaquille O’Neal, Alex Rodriguez and musician Ciara Wilson. The Securities and Exchange Commission last weekissued a warningagainst celebrity-backed SPACs, urging investors to think twice before jumping in.\nStructure evolving\nTo prove that the market is not just a cautionary tale on Wall Street, SPACs are evolving their structure to become more investor friendly and reduce the outsized benefit for sponsors.\nBlank-check company sponsors are paid so-called “promote fees,” which typically entitle them to 20% of the total shares outstanding following the IPO for free or at a big discount. This reward usually results in immediate dilution for the target-company shareholders.\nSome recent deals sought to bridge the gap between the returns that insiders get versus average shareholders.\nEarlier this year, Morgan Stanley developed a new structure called a Stakeholder Aligned Initial Listing (SAIL) vehicle where sponsors receive promote in increments based on share performance.\n“The idea in the past that you have this pump-and-dump approach where you organize something and get them there and before the price dilutes by additional ownership, these guys and girls are out ... I don’t see that,” DeCandido said, adding he saw interest for deals with a 5% promote fee.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":768,"commentSize":314,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}