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3min chapter
SPACs Are Bonds, Actually | Louis Camhi
Forward Guidance
The Complex Strategy of Leverage
The inflation reduction act that was passed at the end of last year, one of the provisions in there was a 1% tax on stock buybacks. For whatever reason, SPAC redemptions are considered stock buyback. And so if you had a SPAC that was going to liquidate in, let's say within the first quarter, you knew that there wasn't enough time to announce a deal and get it closed. So you might as well liquidate. The way it's written now, that redemption event is technically a share buyback and that triggers attacks.
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