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SPACs Are Bonds, Actually | Louis Camhi
Forward Guidance
The SPAC Redeeming Rate
The SPAC redemption rate in December 2022 was 98%, meaning for every $100 of SPAC money, when the deal happened, only $2 went back to the investor. What was it like in the boom times of 2021? Zero. So really everyone knows the stock should be trading at $6, but there's this $10 floor. It kind of comes back to, you know, I call SPACs, a bull market product and people think like, oh, cause you're just talking about SPAC in general.
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